SEATTLE—Hines has sold the SeattleDesign Center, which includes a design center andoffice campus totaling 406,459 square feet, toCalifornia-based investment group GreenbridgeInvestment for $25 million. The center, which consists oftwo buildings—the Atrium and the Plaza—connected via a sky bridge,spans two city blocks in the Georgetown/SoDo submarket 4 milessouth of the Seattle CBD. Bob Safai andBrad Schlaak of Madison Partnersrepresented Hines in the transaction.
PORTLAND, OR—A joint venture of Philadelphia-basedLubert-Adler Partners and Seattle-basedSecurity Properties Inc. has sold HoneymanHardware Lofts, a 100-unit apartmentcommunity with 10,800 square feet of street-levelretail space in the Pearl District downtown hereto DiNapoli Capital Partners purchased thehistoric property for $37.1 million. The sale was brokered by thePortland HFF team led by IraVirden.
EVERETT, WA—Grosvenor Americas has soldBluWater, a 152-unit luxury lakesideapartment community here, to Coast EquityPartners for $25.5 million. KidderMathews represented Grosvenor in the transaction. Theproperty was extensively renovated and upgraded by Grosvenor afterthe company acquired it in 2007.
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