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Carmel Partners Acquires Urbana Apartments In Seattle From Equity Residential For $121 Million

Property Image
SOLD
$121,000,000

Washington

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MultiFamily
Sold 05/19/2025
the dealdetailscomps
Property Image
SOLD

Carmel Partners Acquires Urbana Apartments In Seattle From Equity Residential For $121 Million

1501 Northwest 56th Street

See Similar Deals
MultiFamily
Sold 05/19/2025
the dealdetailscomps

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

The asset involved in this transaction is a multifamily property located at 1501 Northwest 56th Street in Seattle, WA. The property comprises 289 units and was sold for a total price of $121 million, resulting in a price per unit of $418,685. The transaction took place in Seattle's Ballard neighborhood.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $121,000,000
  • Buyer: Carmel Partners
  • Seller: Equity Residential
  • Units: 289
  • Price Per Unit: $418,685
  • Loan Amount: $80.3 million

Equity Residential completed the sale of its Urbana Apartments, with Carmel Partners as the buyer. The transaction was supported by a Fannie Mae loan secured by Carmel Partners, emphasizing the financial structuring of this multifamily investment.

Players

Carmel Partners
Carmel Partners
BUYER
Equity Residential
Equity Residential
SELLER

Details

SOLD
IMAGE: 05/19/2025 ADDRESS: 1501 Northwest 56th Street MARKET: Seattle, WA ASSET TYPE: Multifamily BUYER: Carmel Partners SELLER: Equity Residential SALE PRICE: $121,000,000 UNITS: 289 ~ PPU: $418,685 NOTE: Equity Residential sold its 289-unit Urbana Apartments in Seattle’s Ballard neighborhood for $121 million to Carmel Partners, who secured an $80.3 million Fannie Mae loan.

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