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Mondivan Acquires WA’s Largest Passive House MF for $28M
Cushman & Wakefield brokered the sale of SOLIS, a multifamily property located in the Capitol Hill submarket of Seattle, Washington. The property was acquired by The Mondivan Group, a Vancouver, British Columbia-based boutique real estate development company, for $28.5 million, equating to $633,333 per unit.
The team of Sam Wayne, Tim McKay, Matt Kemper, and Dan Chhan of Cushman & Wakefield’s Multifamily Capital Markets represented the seller, SolTerra. SOLIS was originally planned as a for-sale condo project but pivoted to a rental property during the Summer of 2019.
Built to Passive House energy standards, the sustainable property combines uniquely modern, next-generation design with an urban lifestyle. Solis features dramatic reductions in energy use – 50% below the U.S. multifamily median and won the NAIOP’s Multifamily Development of the Year award in 2020.
