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JRK Property Holdings Purchases Seattle Multifamily Centennial Tower And Court Apartments For $132M
SOLD
$132,000,000
Washington
See Similar DealsMultiFamily513,000 SF
Sold 01/08/2026
SOLD
JRK Property Holdings Purchases Seattle Multifamily Centennial Tower And Court Apartments For $132M
2515 4th Avenue
See Similar DealsMultiFamily513,000 SF
Sold 01/08/2026
Summary
WASHINGTON
Asset Type:MultiFamily
Price Per Square Foot:$257
Total Square Footage:513,000 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily building located at 2515 4th Avenue in Seattle, WA. The sale price for this asset was $132,000,000, which includes 408 units. The building has a total square footage of 513,000, resulting in a price per unit of $323,529 and a price per square foot of $257.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $132,000,000
- Buyer: JRK Property Holdings
- Seller: Mark J. Parrell - Equity Residential
- Units: 408
- Square Footage: 513,000
- Price per Unit: $323,529
- Price per Square Foot: $257
This sale marks a significant transaction in Seattle's real estate market, representing Equity Residential's second multifamily sale exceeding $100 million in Seattle within the same year.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,039,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$468,968.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$625,747.34
Annual Debt Service$7,508,968.12
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