Colliers Represents Greystar in Purchase of University District 5 Parcel Land Assemblage

12th Avenue Assemblage

Global Investor Plans 226-Unit High Rise Student Housing Building

Public records will indicate rental housing industry leader Greystar closed today on a 5-parcel assemblage of existing apartment buildings located at NE 42nd St and 12th Ave NE, with plans to develop a 21-story, 226-unit high-rise student housing tower known as Lakeview Student Residences.

Dan Chhan, Tim McKay, and Sam Wayne of Colliers International represented Greystar and facilitated both sides of the transaction.

“This is a core location with high-rise zoning, just 3 blocks from the University of Washington, and 1 block from the new light rail station opening in 2021,” said Sam Wayne, Senior Vice President at Colliers International. “Despite some current headwinds facing student housing due to Covid, this area is poised for outsized future growth as institutional investors develop new residential and office towers, and The UW continues its expansion.”

The University District is one of six designated urban centers within the city of Seattle. As such it offers a densely populated and vibrant community with countless shops, restaurants and services. The neighborhood boasts a walk score of 93, bike score of 86, and will be just a 10-minute train ride from Downtown Seattle upon completion of the light rail expansion.


About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at, Twitter @Colliers and LinkedIn. Information about our Seattle metro area operations is available at


About McKay, Chhan, Wayne

We have a reputation for going above and beyond for our clients, providing efficient, professional services with an intensity of execution not available anywhere else. We have a solution-driven mindset that is obvious in our analysis, brokerage and marketing efforts. Our capital markets expertise leverages market intelligence, financial acumen and solid partnerships to structure the best deal possible for our clients. We provide full-service solutions to multifamily owners, investors, and developers, including; acquisitions and dispositions, valuation and financial analysis, property management, debt and equity, rehabilitation and repositioning, development feasibility study.

For further information, please contact:

Rachel Person
Marketing Manager

Related Experts

Tim McKay

Senior Vice President


Tim specializes in the sale and advisory services of apartment buildings and development land in the Seattle Metro Area. Tim spends countless hours gathering, sorting, analyzing and comprehending data and trends so that he can arm his clients with the best, most current knowledge available. This real-time information enables Tim the ability to support his clients so that they may make the best business decision today.

Unrelenting commitment and drive for his clients’ success helped form many long-term relationships with investors, and when you ask these clients about Tim, they use the words passionate, understanding, connected, caring and hardworking, but above all else, they will tell you that Tim always puts his clients first and they will continue to work with him for this reason.

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Dan Chhan

Senior Vice President


Dan specializes in the sale and advisory service of apartment buildings and development land in the Seattle Metro Area. Fluent in Cantonese, Dan has been at the forefront of the business, discovering new channels to market and sell real estate in emerging markets in the United States, Pacific Rim and beyond.

Dan represents a new wave of brokerage deeply aware of market trends and economic factors that translates to actionable steps for his clients. He is committed to ensuring that each and every one of his clients is armed with the knowledge to make the best decisions.

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Sam Wayne

Senior Vice President


Sam Wayne has been brokering and syndicating real estate investments since 2006. Since forging the partnership of McKay | Chhan | Wayne in 2015, Sam has sold 2,700 units totaling more than $475 million.

McKay | Chhan | Wayne provide full-service solutions to private and institutional multifamily investors and developers. Client focused with a reputation for dependable and professional services and an intensity of execution not available anywhere else. Their solutions-driven mindset drives analysis, brokerage and marketing efforts. With capital markets expertise, including sourcing of debt and equity, the MCW team leverages market intelligence, financial acumen and deep personal relationships to connect capital with opportunity.

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