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Multifamily Activity Back on Track in Seattle

SEATTLE— Region-wide, the vacancy rate for apartments at the end of 2012 was 4.7 percent, down from the year before. Downtown Seattle's vacancy rate was 4.5 percent, and downtown Bellevue's was 3.4 percent at year-end.

By David Phillips | Updated on March 01, 2013

SEATTLE—Multifamily investments in the Seattle area escalated 87 percent last year, and that growth should continue in 2013.

In the Puget Sound area, large apartment buildings worth nearly $2.8 billion sold last year, according to commercial real estate company the Puget Sound Business Journal, which cited Jones Lang LaSalle and Property and Portfolio Research. That compares to nearly $1.5 billion in 2011 sales.

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