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TMR Investments Acquires Apartments in Seattle’s Ballard Neighborhood
TMR Investments, a Seattle-based, operator-led multifamily investment firm, has acquired VIVE Apartments, a 91-unit residential community located on 15th Ave. NW in the heart of Seattle’s Ballard neighborhood.
Built in 2015, VIVE Apartments is a well-maintained, amenity-rich property offering a mix of studio and one-bedroom residences. The community features a rooftop deck, resident lounge, bike storage, and electric vehicle charging. VIVE is located within walking distance of Ballard Avenue’s retail and dining district, the neighborhood’s brewery corridor, and nearby Fremont and Phinney Ridge.
The acquisition builds on TMR’s presence in Ballard and North Seattle, where the firm owns and operates multiple multifamily communities totaling 255 units. The property will be managed by Thrive Communities, a Seattle-based property management firm that partners with TMR.
“VIVE represents a rare opportunity to acquire a stabilized, cash-flowing asset at a compelling basis — priced well below replacement cost and in line with its 2017 sale price,” said Molly Santucci, Principal at TMR Investments.
