Cushman & Wakefield has brokered the sale of a multifamily portfolio consisting of two properties totaling 49 apartment units in Everett, Washington.

The buyer was represented by Cushman & Wakefield’s Byron Rosen, Tim McKay, Jacob Odegard, Dan Chhan, Matt Kemper, and Dylan Roeter. The northern Seattle portfolio consists of the Magenta Apartments and Fairway Apartments, located on the grounds of the Everett Golf & Country Club.

Bellevue-based DSB Investments, which specializes in the acquisition, rehabilitation, and management of apartment communities in and around the greater Seattle area, purchased the two-asset portfolio from Williams Investments II LLC for $7 million.

“Each property fits right into DSB’s wheelhouse of acquiring and then being able to increase value through strategic renovation,” said Rosen. “Snohomish County stands as a preferred area for multifamily investors due to strong fundamentals.”

New York City-based pharmaceutical giant Pfizer Inc. has stopped its $350 million manufacturing plant project in Everett, marking a pivot in the company’s strategic expansion after its $43 billion acquisition of Bothell-based Seagen.

The Everett facility, located at 215 Shuksan Way, was originally part of Pfizer’s plan to bolster its manufacturing capabilities, reported the Puget Sound Business Journal. Seagen, a global biotechnology company focused on cancer treatments, signed a lease on the 269,097-square-foot facility in 2021, and Pfizer had announced plans to build a medical production facility from the ground up at the site.

The operations and therapeutic products initially slated for production in Everett are now moving to a plant in Sanford, North Carolina. Now, the closure of the proposed project will result in approximately 120 layoffs. “This decision is not a reflection on the performance of our colleagues but is in alignment with our site capacity design to meet the needs of the business,” Pfizer said in a statement.