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Wysong Nabs Sites for Conversion

SEATTLE-The condo converter has acquired three buildings in the past several days.

By Brian K. Miller | Updated on July 31, 2006

(To read more on the multifamily market, click here.)

SEATTLE-On the heels of paying $25.7 million for an older 13-story apartment tower on First Hill, locally based condo converter Wysong Group has paid $33 million for two newer five-story apartment buildings in the nearby Capitol Hill neighborhood. Both deals closed within the last several days.

The latest acquisition, from Harbor Heath LLC, which includes locally based urban infill specialist Harbor Properties, was the Press Apartments. Press One has 66 units and Press Two has 77 units. Press Two, in its final stages of construction, will be mapped and converted to condominiums as soon as possible. Press One, completed in 2002 and leased as apartments, eventually also will be converted.

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