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Blackstone Acquires Two Multifamily Apartment Communities From Inland Group For $75 Million In SeaTac

Property Image
SOLD
$75,000,000

Washington

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MultiFamily
Sold 10/01/2025
the dealdetailscomps
Property Image
SOLD

Blackstone Acquires Two Multifamily Apartment Communities From Inland Group For $75 Million In SeaTac

15311 33rd Avenue South & 15300 33rd Avenue South

See Similar Deals
MultiFamily
Sold 10/01/2025
the dealdetailscomps

Summary

WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale

This transaction involves the acquisition of two newly built apartment communities located at 15311 33rd Avenue South and 15300 33rd Avenue South in SeaTac, WA. The total sale price for the properties amounts to $75,000,000, translating to approximately $128,205 per unit. The 585-unit multi-family portfolio was completed between 2022 and 2023.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $75,000,000
  • Buyer: Blackstone
  • Seller: Inland Group
  • Units: 585
  • Price Per Unit: $128,205
  • Loan Amount: $81 million
  • Interest Rate: 3.03%
  • Maturity: 2038

Blackstone has secured the purchase of the apartment communities from Inland Group, indicating a strategic investment in the multifamily sector. The deal also includes the financing element, with Polaris receiving the Freddie Mac loan, further solidifying the financial arrangements linked to this transaction.

Players

Blackstone
Blackstone
BUYER

Details

SOLD
IMAGE: 10/01/2025 ADDRESS: 15311 33rd Avenue South & 15300 33rd Avenue South MARKET: SeaTac, WA ASSET TYPE: MultiFamily BUYER: Blackstone SELLER: Inland Group SALE PRICE: $75,000,000 UNITS: 585 ~ PPU: $128,205 NOTE: Blackstone has acquired two newly built apartment communities in SeaTac, Wash.—Adara and Polaris—for $75 million ($128K/unit) from developer Inland Group. The 585-unit portfolio, completed between 2022 and 2023, includes Polaris, which secures an $81 million Freddie Mac loan at 3.03% interest maturing in 2038.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,000,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$266,459.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$355,538.26
Annual Debt Service$4,266,459.16