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

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.