SEATTLE—GlobeSt.com has exclusively learned that a partnershipthat includes Chicago-based Origin CapitalPartners and Randolph Street RealtyCapital has completed the sale of the Residences at 3295in Seattle, WA, just two years after its acquisition and followingthe completion of a build-out and repositioning program. Theproperty was sold to an institutional multifamily investor for$15.5 million.
The Residences at 3295 is a six-story, 60-unit apartment projectthat also includes 2,784 square feet of ground floor retail space.At the time of its sale, the residential units were 95% leased andthe retail space was leased in total to a neighborhood restaurantand lounge through 2018.
The brokerage firm of Hendricks-Berkadiarepresented the sellers.
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