Stream Real Estate Acquires Queen Anne Plaza Office Building In Seattle For $7M
201 Queen Anne Avenue North
$7,000,000
Building Size
—
Asset Type
Office
Closing
Jan 4, 2024
AI
Stream Real Estate has acquired Queen Anne Plaza, a four-story office building and parking structure located at 201 Queen Anne Avenue North in Seattle's Lower Queen Anne neighborhood. The property was purchased from East West Investment Co. for a total of $7,000,000.
Summary of transaction details
The transaction was facilitated by Andrew Shultz, Brandon Burmeister, Dan Chhan, Matt Kemper, Sam Wayne, and Tim McKay of Cushman & Wakefield, who represented Stream Real Estate as the buyer in the deal.
This acquisition marks an important milestone for Stream Real Estate as they expand their portfolio with the purchase of Queen Anne Plaza. The property's prime location in the vibrant Lower Queen Anne neighborhood offers great potential for future development and growth.
Players
Seattle Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93