High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Seattle & Northwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
Seattle & Northwest  + Seattle  + Apartments  | 
Institutional Property Advisors, a division of Marcus & Millichap, closed the sale of an apartment property in Seattle's Columbia City neighborhood

Transit-Oriented Apartments Fetch $35M in South Seattle 

Institutional Property Advisors (IPA), a division of Marcus & Millichap, closed the sale of Encore, a 96-unit apartment building with 6,100 square feet of street-level retail in Seattle’s Columbia City neighborhood. The property sold for $35.32 million, or $367,917 per unit.  

Originally developed as high-end condominiums, the mixed-use building was completed in 2022. Encore is a transit-oriented development adjacent to the Columbia City Link light rail stop. It’s a 10-minute walk from Columbia City’s historic Rainier Avenue shopping and entertainment district. 

“With the opening of more than 20 light rail stations over the next two years, residents can connect to the major employment and lifestyle hubs throughout the region with ease, especially with Encore’s central location in South Seattle,” said Giovanni Napoli, IPA executive director.  

Napoli and IPA’s Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino represented seller BDR Holdings, LLC and procured the buyer, Green Leaf Capital Partners.  

Read More News Stories About: Marcus & Millichap
Connect

Inside The Story

IPA's Napoli

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action
New call-to-action
New call-to-action