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

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.