SEATTLE-AREA Property Partners has joined with Harbor Properties Inc. and Urban Partners LLC to create a partnership focusing on multifamily rental projects in Seattle. Harbor and Urban recently merged their existing Seattle offices and are operating as Harbor Urban LLC. The trio will complete its existing construction pipeline as well as future development projects in the region. Heartland Capital Advisors LLC, based here, served as Harbor Properties’ advisor over the past year in developing the strategic partnership.

“First and foremost, AREA brings capital to the partnership,” Matthew Burton, a principal with Urban Partners, tells GlobeSt.com. “Equally as important, they bring a long history of development expertise since their background is deep roots in development. They also bring very good advice and counsel as it relates to moving forward on development projects.” Burton adds that the partnership will look at a handful of Seattle submarkets where it has property either under contract or under letter of intent to further its development projects.

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