SEATTLE-HMI Real Estate Inc., the Mercer Island developer, has sold the 251-unit Moda Apartments at 2312 Third Ave. situated in the Belltown neighborhood in Seattle to Chicago-based Equity Residential Properties Trust. The apartment complex was sold for $45.5 million.
The acquisition has increased the portfolio of apartment properties for Equity Residential in Seattle. Jon Hallgrimson and Frank Bosl of CB Richard Ellis negotiated the deal on behalf of both the seller and the buyer. For the full story, go to Puget Sound Business Journal .
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