SEATTLE—Wood Partners, one of the nation's most active multifamily developers, has closed on the sale of Jasper by Alta—a 91-unit luxury apartment community in Seattle's Wedgwood neighborhood—for $29.4 million. Wood Partners sold the multifamily development to Jasper 91, LLC, an entity associated with Calfox, Inc.

Jasper by Alta, which opened in July of last year, is located at 8606 35th Avenue NE in the highly sought after North Seattle neighborhood. The 100% leased apartment community is in close proximity to the University of Washington hospital and the currently expanding Seattle Children's Hospital, two vibrant and growing employers, less than 10 miles to downtown Seattle.

“From our perspective, this was an ideal time to sell Jasper by Alta,” said Steve Yoon, vice president of development for Wood Partners' Northwest region. “The Seattle market is strong and we received a wide range of interest from a number of different buyers. This sale will enable us to reinvest into other development opportunities in Seattle over the next few years.”