(To read more on the multifamily market, click here.)
SEATTLE-Locally based Mastro Properties has acquired threeapartment buildings here from Prudential Insurance Co. of Americawith plans to convert them all to condominiums. Mastro Propertiespaid $40 million for the properties, which contain a combined totalof 209 units.
The purchase includes the 62-unit Oliver Apartments at 1125 E.Olive St. on Capital Hill; the 72-unit Jeffrey Apartments at 41211th Ave. near Seattle University; and the 75-unit MosaicApartments at 668 S. Lane St. in the International District. Thebuildings are all five-stories over concrete and were developedwithin the past couple of years. The Oliver includes 3,371 sf ofretail space and the Mosaic includes 3,875 sf of retail space.
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