Oakwood to Manage New Seattle Community
- Nov 07, 2019
Wilshire Capital LLC has selected Oakwood to manage Tellus on Dexter, a new 98-unit residential community in Seattle. The property is located at 403 Dexter Ave. N in the South Lake Union neighborhood, just north of downtown.
Oakwood, a subsidiary of Mapletree Investments, already operates six other communities in and around Seattle, including Oakwood Seattle South Lake Union, which is located in the same neighborhood as Tellus on Dexter at 717 Dexter Ave. N. The new deal puts the company in charge of managing an eight-story building designed by VIA Architecture that features studios, one- and two-bedroom units.
Amenities of Tellus on Dexter include a rooftop deck, common lounge area, fitness center and 50 parking spaces. The building also integrates 2,588 square feet of ground-level retail space, which is leased by Metropolitan Deli and Café and will be managed separately.
Private real estate firm Wilshire Capital purchased The Redwood, a 75-unit community in Seattle, from Johnson & Carr for $17.5 million last December. Developed in 2017, the property is located at 111 21st Ave. E. in the city’s Capital Hill/Eastlake area.