(To read more on the multifamily market, click here.)
SEATTLE-Harbor Properties is selling the Helix and the Ellipse,its two new apartment developments in Seattle's UniversityDistrict. The buyer is an advisory client of Blackrock Realty, theprivate equity investment management arm of publicly held BlackrockInc. of New 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 fornearly $20.7 million, according to King County records. Lease up ofthe building's units began last month. The Ellipse, a 73-unitdevelopment located further down 12th Avenue, which is still underconstruction, will be sold upon completion later this year for anas-yet undisclosed price.
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