Wednesday, December 17, 2014

Seattle: $61 Million Apartment Sale in Amazon's Backyard


by Spencer Marona, Managing Director

Chicago-based Equity Residential purchased the Alcyone Apartments from Vulcan Real Estate in Seattle's South Lake Union neighborhood, where Amazon's campus is also located. This area has been exploding in growth with office, multifamily, mixed-use, and retail properties. 

Fortunately, many apartment owners and investors of properties in secondary and tertiary markets are taking advantage of the rippling effects from these sales. As institutional and foreign capital continues to invest in the urban core markets, sellers will 'chase yield' to achieve a similar return on their investment. 

Read more about this sale, which was announced today in a Puget Sound Business Journal article 

Contact an HFO broker to see how we can help you achieve the highest value for your property in 2016, whether that means selling and cashing out, selling and exchanging, holding and refinancing, or holding and improving operations.