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Bellevue Towers Trade for $193M to The Sobrato Organization
CBRE arranged the $192.85 million sale of Soma Towers, a 273-unit multifamily community in Bellevue, Washington.
Su Development sold the asset to The Sobrato Organization. CBRE’s Eli Hanacek, Kyle Yamamoto and Mark Washington represented the seller. “The property garnered significant interest from buyers because of the exceptional quality of the asset, strength of the market, and long-term fundamentals,” said Hanacek.
While Sobrato owns other multifamily assets in the Puget Sound region, this acquisition marks its first entry into the Bellevue submarket. Located at 288 106th Ave NE in Bellevue, Soma Towers has two towers with 273 units with floor plans including studio, one- and two-bedroom units, as well as two- and four-bedroom penthouse suites.
The towers also have 29,964 square feet of commercial space across two floors that is 90% leased to restaurants, retail, and cultural amenities. Community amenities include a heated lap pool, fitness center, golf simulator, rooftop terrace, 18-seat theater and media room.
Photo credit: Porchlight Photography
