BentallGreenOak Acquires 238-Unit Multifamily Property In Seattle For $152 Million

BGO acquired the 238-unit Ballard Independent apartment community at 2245 Northwest 56th Street in Seattle, WA for $152 million ($638,655 per unit). The property, completed in 2024, features a mix of studio to two-bedroom units. BGO financed acquisitions through a $525 million JPMorgan line of credit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $152,000,000
• Buyer: BentallGreenOak
• Seller: Holland Partner Group; North America Sekisui House
• Units: 238
• Address: 2245 Northwest 56th Street, Seattle, WA
• Price per Unit: $638,655

This transaction involved BentallGreenOak as the buyer, representing a strategic acquisition within the multifamily sector. The sellers, Holland Partner Group and North America Sekisui House, were responsible for the development of the property prior to the sale. The financing from JPMorgan indicates confidence in the asset's potential within the market.