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Woodinville Apartment Complex Latest Addition to Grosvenor’s Value-Add Portfolio

Woodinville Apartment Complex Latest Addition to Grosvenor’s Value-Add Portfolio

By Alex Girda, Associate Editor Grosvenor Americas recently announced the acquisition of the Waterford Place Apartments in Seattle’s Woodinville suburb for $58.4 million. The property group will now pursue a substantial property renovation to add value to the newest member of its portfolio. Upgrades are deemed necessary for most of…

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Wood Partners to Begin Construction on New Apartment Building

Wood Partners to Begin Construction on New Apartment Building

By Alex Girda, Associate Editor Nationwide multifamily developer Wood Partners announced construction on its latest Seattle-area apartment building is set to begin. The company will develop a 27-story residential complex at 225 Cedar St. in Belltown. The dining- and entertainment-heavy district is a suitable venue for the multifamily project, which…

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440-Foot Tower Proposed for Seattle

440-Foot Tower Proposed for Seattle

By Alex Girda, Associate Editor Seattle city planners have recently been forwarded plans for a brand-new 440-foot tower that would be developed at the corner of Second Avenue and Stewart Street. With permit applications yet to be filed, there are no major details on the project. However, The Seattle Times…

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American Assets Set to Snap Up City Center Bellevue in Deal Worth $229M

American Assets Set to Snap Up City Center Bellevue in Deal Worth $229M

By Alex Girda, Associate Editor City Center Bellevue is the object of the latest large office property purchase in the greater Seattle area, after American Assets Trust Inc. made a grab for the high-rise building. The full-service, vertically integrated and self-administered real estate investment trust is reportedly set to acquire…

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Kilroy Continues Washington State Spending Spree with Bellevue’s Skyline Tower

Kilroy Continues Washington State Spending Spree with Bellevue’s Skyline Tower

By Alex Girda, Associate Editor Kilroy Realty Corp. is carrying on with its massive Northwestern assault in terms of spending. The well-known real estate investment trust recently announced the acquisition of a downtown Bellevue office tower known as Skyline Tower. The Los Angeles-based firm paid a reported $186.9 million to…

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Pebblebrook Buys Boutique Hotels in Seattle, Portland

Pebblebrook Buys Boutique Hotels in Seattle, Portland

By Alex Girda, Associate Editor Pebblebrook Hotel Trust has secured two of the Northwest’s prime boutique properties: The Hotel Vintage Park Seattle and the Hotel Vintage Plaza Portland, which are located in Seattle’s downtown financial center and Portland’s downtown respectively. The REIT paid $63 million for the properties. The 124-key…

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Stonebridge Buys Seattle Hilton from R.C. Hedreen for $60M

Stonebridge Buys Seattle Hilton from R.C. Hedreen for $60M

By Alex Girda, Associate Editor In a deal valued at $60 million, Stonebridge Cos. has acquired the Seattle Hilton from R.C. Hedreen Co., the Puget Sound Business Journal reports. The 237-key property, which will continue to operate under the Hilton flag, is located at 1301 Sixth Avenue in Downtown Seattle.…

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SLU Rezoning Plan Features Towers and Affordable Housing

SLU  Rezoning Plan Features Towers and Affordable Housing

By Alex Girda, Associate Editor A proposed rezoning plan unveiled by Mayor Mike McGinn for Seattle’s thriving South Lake Union submarket envisions apartment and condo towers rising up to 400 feet above street level and could add as many as 12,000 new households to the neighborhood. The proposal, which requires…

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Regency Plans 280,000 SF Retail Center for Issaquah

Regency Plans 280,000 SF Retail Center for Issaquah

By Alex Girda, Associate Editor Issaquah Highlands, a master-planned community east of Downtown Seattle, will get a 280,000-square-foot grocery-anchored shopping center. Regency Centers will develop Grand Ridge Plaza on a vacant 25-acre parcel situated in the heart of the development. Regency’s forthcoming development will be anchored by Safeway, which will…

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JMA Ventures Buys Redmond Asset from Clarion for $39M

JMA Ventures Buys Redmond Asset from Clarion for $39M

By Alex Girda, Associate Editor JMA Ventures has expanded its Puget Sound portfolio with the $38.5 million acquisition of the Offices at Riverpark in Redmond. The San Francisco-based investor bought the property from Clarion Partners, which also developed the 106,281-square-foot Class A property. That translates to a sale price of…

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Bosa Launches Downtown’s First Condo Tower Since 2007

Bosa Launches Downtown’s First Condo Tower Since 2007

By Alex Girda, Associate Editor Downtown Seattle’s first high-rise condominium project in more than five years is getting under way in the Denny Triangle this month as Bosa Development Corp. starts work on the Insignia, a pair of 41-story towers that will include as many as 700 units between them, the Seattle Times reported.…

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Kilroy’s $330M Buying Spree Expands Puget Sound Footprint

Kilroy’s $330M Buying Spree Expands Puget Sound Footprint

By Alex Girda, Associate Editor With $330 million in acquisitions closed or under contract, Kilroy Realty Corp. is cementing its status as a leading Puget Sound office owner. Last week the Los Angeles-based investement firm reported that it spent $145 million in two separate transactions to assemble a 417,000-square-foot campus in Seattle’s South Lake Union district, where Amazon’s…

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