(To read more on the multifamily market, click here.)
SEATTLE-Harbor Properties selling the Helix and the Ellipse, itstwo new apartment developments in Seattle's University District.The buyer is an advisory client of Blackrock Realty, the privateequity investment management arm of publicly held Blackrock Inc. ofNew York City.
The Helix, a 78-unit, six-story project with 19,000 sf ofstreet-level retail at the high-traffic corner of Northeast 50thAvenue and 12th Avenue Northeast, changed hands last week for$20.66 million, according to King County records. Lease up of thebuilding's units began last month. The Ellipse, a 73-unitdevelopment located further down 12th Avenue that is still underconstruction, will be sold upon completion later this year for anas yet undisclosed price.
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