Bascom Group Acquires 92-Unit 2300 Elliott Apartment Property In Seattle For $29.4M With $24M Loan

The 2300 Elliott apartment property located at 2300 Elliott Avenue in Seattle, WA, is a multifamily asset comprising 92 units. The property was acquired for $29.4 million from Equity Residential and includes studio to two-bedroom units with rents starting at $1,564. It offers amenities such as a fitness center and a rooftop terrace.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $29,400,000
• Lender: BrightSpire Capital
• Landlord: Bascom Group
• Loan Amount: $24,000,000
• Loan Type: Acquisition

BrightSpire Capital provided financing for Bascom Group's acquisition, contributing to the successful transfer of the property into their portfolio. This transaction highlights the collaboration between the two entities in securing the financing needed for this multifamily investment.