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201 Queen Anne Avenue North

Stream Real Estate Acquires Queen Anne Plaza Office Building In Seattle For $7M
SOLDOffice

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

  • Property Type: Office
  • Transaction Amount: $7,000,000
  • Market: Seattle, WA

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

Tim McKay

Cushman & Wakefield

Broker

$289.6M

vol

16 deals

Broker

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