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The Slater Magma Equities recently completed a condominium conversion of a 52-residence community.

KIRKLAND, WA—Fannie Mae reports there are more than 40,000 households in Seattle paying in excess of 50% of income on rent. As entry-level housing remains a need for would-be owners and lack of affordability continues to be a factor in the Seattle metro, condo conversions offer one option. To that end, Magma Equities recently completed a multimillion-dollar condominium conversion of a 52-residence community, the Slater.

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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