Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published June 21, 2011 at 5:02 PM | Page modified June 21, 2011 at 7:01 PM

Equity Residential buys Belltown apartments for $49M

Sam Zell's Equity Residential, the country's largest apartment landlord, is the new owner of the Moda apartments in Seattle's Belltown.

Seattle Times business reporter

No comments have been posted to this article.
Start the conversation >

advertising

Sam Zell's Equity Residential, the country's largest apartment landlord, is the new owner of the Moda apartments in Seattle's Belltown.

Equity bought the 251-unit complex this month from its developer, HMI Real Estate of Mercer Island, for $49.5 million, according to public records.

Moda, on Third Avenue between Bell and Battery streets, was built as a condominium, but switched to rentals shortly before it opened in 2008 after the real-estate market tanked.

Moda is the second Seattle purchase this year for Equity, which owns or has an interest in about 30 apartment complexes in the area. In March it bought a six-story office building near the Alaskan Way Viaduct with plans to redevelop it someday.

News where, when and how you want it

Email Icon




Advertising