Green Leaf Capital Pays $49M for Seattle Asset

The transaction involved a $26.8 million Fannie Mae loan.

Broadstone Sky. Image courtesy of Yardi Matrix

Green Leaf Capital Partners has acquired Broadstone Sky, a 151-unit multifamily community in Seattle, for $48.5 million. According to Yardi Matrix data, the deal involved a $26.8 million Fannie Mae loan originated by JLL, which also represented the seller in the transaction, Alliance Residential Co. The new owner rebranded the asset as Green Leaf Sky Apartments.

Completed in 2016, the property incorporates one- and two-bedroom units ranging from 551 to 1,066 square feet, 27 of which are designated as affordable housing. Apartment interiors feature walk-in closets, stainless steel appliances, quartz countertops and in-unit washers and dryers. Community amenities encompass a 24-hour fitness center, a rooftop deck, a clubhouse, two barbecue areas and a resident lounge, along with 185 parking spaces.

Situated at 4745 40th Ave. SW in a walkable neighborhood, the midrise property is roughly 6 miles from downtown Seattle, just west of Fauntleroy Way. The location provides connectivity to Interstate 5, ensuring access to large employers and points of interest throughout the metro. The community’s surroundings incorporate numerous dining, retail and entertainment options.

Senior Managing Directors David Young and Corey Marx along with Senior Directors Chris Ross and Jordan Louie led the JLL team that facilitated the transaction.

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