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Continental Re-Claims Trophy Tower in Seattle for $216M
Bellevue-based Continental Properties acquired Met Tower, a trophy 366-unit, high-rise multi-housing building located in Seattle from Westlake Tower Associates for $216.1 million. The asset is located at 1942 Westlake Ave. in the epicenter of the burgeoning technology industry in the South Lake Union and nearby Belltown neighborhoods.
JLL’s Ira Virden, Christopher Ross and Matthew Lawton marketed the property exclusively on behalf of the unnamed seller, and procured the buyer. The property was sold free and clear of existing financing. The seller reportedly was an entity now associated with CBRE Global Investors and UAE investors. Continental Properties was the original developer of the property in 2001.
The transit-oriented property is near Washington State Convention Center, Pike Place Market, the Seattle Waterfront, Seattle Center, Westlake Center and Denny Park, as well as the SLU Streetcar and Westlake Station Transit Center.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


