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Equity Residential Sells Seattle Apartment Complex for $132M
An apartment complex in Seattle’s Belltown neighborhood has traded for $132 million.
The Centennial Tower and Court Apartments complex comprises a seven-story mid-rise with 187 units and a 26-story tower with 221 units. The seller is Chicago-based Equity Residential, reported the Puget Sound Business Journal. Los Angeles-based real estate investment firm JRK Property Holdings is the buyer.
The apartments feature a 24-hour fitness center, lounge spaces and a rooftop space. The buildings total 513,000 square feet, including approximately 14,500 square feet of ground-floor retail space.
The multifamily investor has owned the two-building property at 2515 Fourth Ave. since 2005, when it acquired it for $69 million. The Centennial sale was Equity Residential’s second recent multifamily disposition in the Seattle area that exceeded $100 million. In May, the firm sold the 289-unit Urbana Apartments mixed-use property in Ballard for $121 million.
