Bell Partners buys Seattle apartment building for $95 million
Bell Partners just bought a big Seattle building.
The short version
- The deal covers two hundred sixty-one apartments.
- The property cost ninety-five million dollars.
- The building is now named Bell Ballard.
Bell Partners, a national apartment owner and property management firm based in North Carolina, just bought the Leva on Market building in Seattle’s Ballard neighborhood for $95,000,000, according to Connect CRE. Located at 1545 NW Market Street, the eight-story, 350,000-square-foot property features 261 studio, one- and two-bedroom units.
A company linked to BlackRock, the massive investment firm, originally purchased the land in 2006 for $4,900,000 before the building was completed in 2008. Following the acquisition, the property has been renamed Bell Ballard. Ground-floor retail tenants at the building include Waxing the City and Tropical Tan of Ballard.
This purchase marks Bell Partners’ second apartment building in Seattle and its seventh multifamily property in the Puget Sound region overall. The firm also owns three apartment buildings in Redmond, one in Kirkland, and one in Lynnwood. Large investment firms continue trading big properties as the housing market moves. Keep an eye on local real estate values if you own property in growing metro areas.
