SEATTLE—Vulcan Real Estate has reached a deal for the sale of the Rollin Street Flats in Seattle's South Lake Union neighborhood to San Francisco–based Stockbridge Capital Group for $138.2 million.
“South Lake Union has grown into a highly desirable residential market,” said Ada Healey, vice president of real estate for Vulcan. “As the neighborhood's premier luxury apartment building, we anticipated competitive pricing and interest from institutional investors, which is evident in the transaction to Stockbridge.”
The 11-story building features 208 LEED Gold certified loft-style apartment homes, including five penthouse homes ranging from 1,579 to 2,036 square feet. The entry and lobby feature artwork of by local artist Leo Saul Berk, made from timbers and decking salvaged from a one-story building that previously stood on the site. Tenant amenities include roof top decks and a full-size basketball and volleyball court.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
