August 22, 2019
A two-property multifamily development has hit the market in downtown Seattle. The developer, Phoenix-based Alliance Residential Company, has enlisted Cushman & Wakefield to handle the sales assignment for the 400-unit Broadstone First Hill asset.
The recently-delivered properties, across the street from one another, include Broadstone Saxton (pictured), located at 520 Terry Ave., and Broadstone Lexington, at 1050 James St. Situated in the prestigious First Hill neighborhood, Broadstone First Hill provides an authentic and curated living experience. In addition to the luxury apartment homes, the property offers 7,604 square feet of ground floor retail.
Cushman & Wakefield’s Marc D. Renard, Pete Shelton, Manfred Schaub, Kim Grant and Morgan Jackson will represent the developer.
Renard notes they expect to attract global investor interest in the asset. He says, “Through this offering, an investor can acquire two world-class apartment communities at an attractive cost basis in a market expected to provide superior rent growth and compelling risk-adjusted returns.”
For comments, questions or concerns, please contact Dennis Kaiser