The Sobrato Organization Acquires Soma Towers Multifamily Asset In Bellevue From Su Development For $192.8M

The property asset involved in this transaction is a multi-family development located at 288 106th Avenue Northeast, Bellevue, WA. The property was acquired for a total of $192,800,000 and includes 273 apartments. It also features nearly 30,000 square feet of commercial space that is 90% leased, alongside various amenities such as a pool, a golf simulator, and a rooftop terrace.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $192,800,000
• Units: 273
• Price Per Unit: $706,227
• Buyer: The Sobrato Organization
• Seller: Su Development
• Brokers: Eli Hanacek, Kyle Yamamoto & Mark Washington - CBRE

This transaction was facilitated by Eli Hanacek, Kyle Yamamoto, and Mark Washington from CBRE, representing both the buyer and the seller in this deal. The transaction highlights the involvement of these brokers in handling the complexities associated with the sale of such a significant property asset.