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288 106th Avenue Northeast

Updated May 12, 2025

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

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

288 106th Avenue Northeast

$192,800,000

Units

273

Asset Type

MultiFamily

Closing

May 2, 2025

About this deal

AI

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:

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.

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$192,800,000

MultiFamily

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Players

Eli Hanacek

CBRE

Broker

$2B

vol

23 deals

Broker
TO
The Sobrato OrganizationBuyer

Bellevue MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $706.2K per unit across 273 units on a published $192.8M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.08%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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