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SoCal Firm Acquires Three Seattle Properties

SEATTLE-A real estate investment firm from Santa Barbara pays approximately $34.2 million for 173 units in three properties in this city's Queen Anne and Capitol Hill neighborhoods.

By Brian K. Miller | Updated on December 07, 2006

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

SEATTLE-Three urban apartment properties here containing 173 units have changed hands for $34.25 million. Birkeland and Assoc. sold the Queen Anne and Capitol Hill neighborhood properties to a private investment fund of Granite Peak Partners, a Santa Barbara, CA-based real estate investment firm that has set its sights on the market.

The properties are Queen Vista (321 Queen Anne Ave N.), a six-story, 67,490-sf building with 87 units; Highland Crest (1205 Queen Anne Ave. N.), a 23,828 sf, four-story building with 34 units, and; the Summit (733 Summit Ave E.), a 31,860-sf, four story building with 52 units. Steffenie Birkeland and Joe Maas with Synergy Real Estate in Seattle brokered the deal.

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