Updated May 12, 2025
Waterton Purchases Skye At Belltown Multifamily In Seattle From Mill Creek Residential For $102.7M
500 Wall Street
$102,700,000
Units
371
Asset Type
MultiFamily
Closing
Apr 22, 2025
About this deal
AI
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.
On the Map
$102,700,000
MultiFamily
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Seattle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93