Los Angeles-based Vista Investment Group and San Francisco’s Sky Alps Capital have acquired a three-building, 215-unit multifamily portfolio in Downtown Seattle for $35.2 million, the companies announced this week.

Charbern ApartmentsKidder Mathews

The properties, all built in the early 20th century and located within a mile of each other, include:

  • Stockbridge Apartments, 1330 Boren Avenue – 76 units
  • Carolina Court, 527 Eastlake Avenue E – 72 units
  • Charbern Apartments, 1705 Belmont Avenue – 67 units

“With minimal new supply coming online, one of the best rent-to-income ratios among major U.S. cities, and a dominant center for AI innovation and talent, Seattle is poised to be one of the top-performing multifamily markets over the next five years,” said Vista president Jonathan Barach. “Our goal is to continue increasing our exposure in both Core Plus and Value-Add investments over the next 12 months, especially in and around the urban core.”

Carolina CourtKidder Mathews

 

Vista plans a renovation of all three buildings, which were 97 percent leased at closing.

JLL’s Los Angeles-based Private Capital Group arranged five-year Freddie Mac financing. Kidder Mathews represented the seller.