Radius Apartments, Seattle

February 8, 2017 Comments Off on KW Shells Out $141M for Seattle Apartments Views: 258 National News, Washington, West

KW Shells Out $141M for Seattle Apartments

Kennedy Wilson and an undisclosed partner acquired Radius, a class-A, 282-unit apartment property in Seattle’s South Lake Union submarket. The partners paid $141 million to the seller (and developer) Greystar for the two-year-old property at 400 Boren Ave. N.

KW and its partner, through a 50/50 joint venture, invested a total of $72 million in equity, of which $58 million was funded from sale of the Grove in San Jose, CA. The buyers also secured a 10-year, $70 million loan, with an interest rate of 4.06%, and interest-only during the first five years.

Radius is across the street from Amazon’s world headquarters and main campus, and is within walking distance to other major employers. The nine-story property offers studio, one, and two-bedroom units. On-site amenities include rooftop deck, bike-share stations, resident pub and fitness center, and an outdoor barbecue and entertainment area.

Read More at Businesswire

Connect with Kennedy Wilson


Subscribe to Connect Daily National

For comments, questions or concerns, please contact Amy Sorter

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: ,

Comments are closed.