Pacific Northwest Area News

American Campus Communities Pays $64.4M for Seattle Multifamily

American Campus Communities, Inc., a Texas-based investment firm, acquired the 184-unit Multifamily Bridges @ 11th apartment community in Seattle, WA from Security Properties, Inc. for $64.4 million, or about $350,000 per unit. The 186,000-square-foot apartment community consisting of three buildings located at 4557 11th Ave. NE was delivered in 2015 and is located four blocks from the I-5. The property was approximately 95 percent occupied at...
Posted: November 7, 2017, 10:47 am

Chambers Commercial Real Estate Sells Land in Seattle's Belltown Submarket

Skanska, a project development and construction company, purchased the redevelopment land at 2208, 2212 and 2218 4th Ave. in Seattle, WA from Chambers Commercial Real Estate for $21.6 million. The three parcels total 19,440 square feet. The buyer plans to develop a 346-unit multifamily tower with ground-floor retail at the site. Construction dates were not disclosed. Katherine Laird, Campbell Mathewson and Michael Finch of Century Pacific...
Posted: November 7, 2017, 2:29 am