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Cadence Claims Seattle Affordable Housing Asset
Cadence Real Estate acquired The Lowman Building in Seattle, WA for $13 million. The seller of the 89-unit affordable housing property, in downtown Seattle’s vibrant, historic Pioneer Square neighborhood at 107 Cherry St., was Evergreen Housing Development Group LLC.
Built in 1906 and renovated in 2005, the designated historic building offers all 89 of its studio apartments to those making 60% of area median income or less, with 10% of the units available to tenants utilizing Section 8 vouchers.
Cadence Principals, Chris Garvin and Barrett Johnston say, “The Lowman Building acquisition represents a new market for Cadence, providing us with an opportunity to enter the affordable housing market and maintain the current affordable housing stock in the City of Seattle.”
CBRE Affordable Housing’s Johnathan Smith and Ben Barker represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


