Timberlane Partners Acquires Queen Anne Collection Mixed-Use Portfolio In Seattle For $138.5M
1920 Queen Anne Avenue North
$138,500,000
$567/SF
Building Size
244,000 SF
Asset Type
Mixed-use
Closing
Apr 2, 2025
AI
Timberlane Partners has acquired an asset located at 1920 Queen Anne Avenue North in Seattle, WA. The mixed-use property comprises a total of 244,000 square feet with 245 residential units and 63,551 square feet designated for retail space. The sale was completed for a total of $138.5 million, translating to a price per square foot of $568.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $138,500,000
- Buyer: Timberlane Partners
- Seller: RREEF Property Trust
- Sale Date: 04/02/2025
- Location: Seattle, WA
- Square Footage: 244,000
- Residential Units: 245
- Retail Space: 63,551 square feet
- Price per Square Foot: $568
This transaction underscores Timberlane Partners' ongoing investment strategy in the region, having previously acquired a multifamily property in Renton the prior year. RREEF Property Trust served as the seller in this significant deal.
Players
Seattle Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93