The Sobrato Organization Acquires Park Metro Apartments From Northpoint Parkmetro LLC For $33M

The transaction involved a multi-family asset located at 11101 Northeast 12th Street, Bellevue, WA. The property, known as Park Metro Apartments, features 78 residential units along with 2,500 square feet of retail space. The selling price for this asset was $33,000,000.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $33,000,000
• Buyer: The Sobrato Organization
• Seller: Northpoint Parkmetro LLC
• Brokers: Giovanni Napoli, Philip Assouad, Ryan Harmon, Nicholas (Nick) Ruggiero & Anthony Palladino - Institutional Property Advisors
• Market: Bellevue, WA
• Date of Sale: 09/18/2025
• Mixed-use Property: Yes
• Retail Space: 2,500 square feet

Institutional Property Advisors, a division of Marcus & Millichap, facilitated this transaction by representing the seller, Northpoint Parkmetro LLC, while successfully procuring the buyer, The Sobrato Organization. This acquisition marks Sobrato’s second purchase within the Eastside market for the year.