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California Buyer Finds Seattle MF Appealing
The Redwood, a newly-constructed, 75-unit apartment community in Seattle’s Capitol Hill neighborhood, has been sold. The buyer, El Segundo, CA-based Wilshire Capital, reportedly paid $17.5 million for the property.
Completed in fall 2017, the building was 100% leased within six months. Located at 111 21st Ave. E, the project takes cues from its environment, incorporating modern, Pacific Northwest-inspired features such as wood accents, custom metal fabrication and native landscaping. Amenities include luxury finishes and stainless-steel appliances, as well as bike storage, a rooftop deck with a BBQ, and sweeping views of the Cascades and Seattle skyline.
CBRE’s Steven Chattin, Mitchell Belcher, Mark Zoffel and Jay Timpani represented the seller, 111 21st Ave E, LLC, a subsidiary of Johnson & Carr, who also developed the property. CBRE’s John Lo arranged the non-recourse, full-term interest-only acquisition financing for the buyer, provided by a national non-bank lender.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


