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Waterton Purchases Skye At Belltown Multifamily In Seattle From Mill Creek Residential For $102.7M
SOLD
$102,700,000
Washington
See Similar DealsMultiFamily
Sold 04/22/2025
SOLD
Waterton Purchases Skye At Belltown Multifamily In Seattle From Mill Creek Residential For $102.7M
500 Wall Street
See Similar DealsMultiFamily
Sold 04/22/2025
Summary
WASHINGTON
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily asset, known as Skye at Belltown, located at 500 Wall Street in Seattle, WA, was sold for $102,700,000. This 18-story building features a total of 371 units, resulting in a price per unit of $276,819.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $102,700,000
- Units: 371
- Price Per Unit: $276,819
- Buyer: Kevin Ibasco - Waterton
- Seller: Mill Creek Residential
- Sale Date: 04/22/2025
- Market: Seattle, WA
This transaction involved Kevin Ibasco representing Waterton as the buyer, while Mill Creek Residential acted as the seller in this notable deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,477,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$364,871.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$486,850.40
Annual Debt Service$5,842,204.74
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