The aggregate purchase price was $15.6 million or $185,700 per unit, according to Grubb & Ellis, the only brokerage firm in the deal. G&E senior vice presidents Geza Berger, Dennis Evans and Jim Nichols had the disposition assignment. Stratford, a real estate investment company, used an in-house broker.
The Puget Vista property, a four-story building built in 1967, sold for $7.4 million, or $217,000 per unit. The Hillcrest property, two four-story buildings built in 1969, sold for $8.2 million, or $163,000 per unit.
"The Puget Vista is located on the southwest slope of Queen Anne Hill with panoramic views from most units of downtown Seattle, Mount Rainier, Puget Sound and the Olympic Mountains; The Hillcrest is at the top of Magnolia Hill with great views of the Fisherman's Wharf and the Cascade Mountains from a lot of units," Berger says. "It doesn't get much better."
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