BELLEVUE, WA – Virtu Investments has purchased a 154-unit multifamily property in Bellevue, WA from Evergreen Point Development LLC for $109 million.
The purchase price equates to $707,792 per unit.
The acquired property, Cerasa, offers community amenities such as a residents' clubhouse and a gated underground parking garage with electric car charging stations. Cerasa's units feature imported Italian cabinetry, slab quartz countertops and triple-pane floor-to-ceiling windows. The property additionally offers top floor penthouse units with 11-foot to 14-foot ceilings, and select units with private decks, terraces or Juliet balconies.
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Completed in 2019, the property features a concrete and steel panel design.
Located in downtown Bellevue, Cerasa is located near the city's technology and employment hub, the future Grand Connection park and plaza space, and a light rail station, which will open in 2023.
Institutional Property Advisors, a division of Marcus & Millichap Inc.,
Philip Assouad and Giovanni Napoli of Institutional Property Advisors, a division of Marcus & Millichap Inc., represented the seller and procured the buyer for the transaction.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
