The transaction represents the conclusion of the Unico Partners I fund, which closed in 2014 after raising $265 million in equity. The company will retain a stake in the portfolio and will continue to manage and operate it on behalf of the new partnership. Unico, a Seattle-based private equity commercial real estate firm, said the portfolio is 85 percent leased. Today, there are at least 15 taller buildings in the city, according to. Unico bought the 462-foot-tall building, 506 Second Avenue, four years ago for $73.7 million and remodeled it, opening a restaurant and bar and launching a tour program for visitors. Smith Tower is set to fill your 2023 with amazing experiences and events never seen before From free vendor nights, cocktail classes, specialty themed dinner shows, tastings, concerts and festivals we are so excited for Washington locals and the worlds travelers to experience all of the amazing corners within Smith Tower. The 42-story Smith Tower, built in 1914, was the first skyscraper in Seattle and for years was the tallest building west of the Mississippi River. Other Seattle buildings involved in the sale are the Yale + Thomas building in South Lake Union, which was formerly the PEMCO building 1505 Fifth Avenue in downtown and the three-building Grand Central Block and Butler Garage in Pioneer Square. The sale is part of a 27-building portfolio deal in Seattle and Denver - totaling 1.8 million square feet for $710 million. Unico Properties has sold Seattles historic Smith Tower to Goldman Sachs affiliate Broad Street Principal Investments LLC.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |