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O’Connor/Urban JV Sells 37-Story Multifamily

SEATTLE-The built-green downtown luxury high-rise contains sells for a reported $165 million.

By Carrie Rossenfeld | Updated on November 06, 2012

SEATTLE-A joint venture of O’Connor Capital Partners and Urban Partners LLC has sold Aspira, a 37-story multifamily high-rise located at 1823 Terry Ave. downtown. Sources involved in the deal did not return GlobeSt.com’s request for further information before deadline, but industry sources unrelated to the transaction report that the sale price was $165.7 million, or $509,706 per unit, and that the buyer was T-C Aspira LLC.

Marc D. Renard, Cushman & Wakefield of California Inc.’s vice chairman and executive managing director, capital markets group, led a team that included Pete Shelton, Manfred W. Schaub and Kim Grant in representing the seller in the transaction. The property is Seattle’s first four-star built-green luxury high-rise and contains 325 apartment homes. Sources report that Aspira was built in 2010 and that the land had been purchased in August of 2007 for $8.5 million.

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