The Puget Sound Business Journal noted that the movement of three separate property deals totaling out at $118.8 million dollars shows improvement in the CRE sector in the area. The article notes that the transactions, all announced within a week beginning in late March, include:
The January 27th sale of two apartment properties in Kirkland as Colorado-based apartment investor Archstone purchased the buildings from Bellevue-based Continental Properties Inc. for $47.46 million. Continental previously bought the properties from the Seattle-based Skinner family in 2005 for $32.4 million.
The January 31st announcement that Griffin Capital Net Lease REIT Inc. purchased the West Willows Technology Center from Arden Realty for $40 million. The 155,830 square foot office park in Redmond includes three buildings and is fully occupied by AT&T Wireless Services Inc. under a long-term lease.
Redhill Realty Investors, a private equity investment firm, also announced on January 31 that it had sold the Hampton Bay Apartments in Kent for $31.4 million to Hampton Bay of Vancouver.
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