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April 29, 2014

Joseph Arnold Lofts sold for $68M to Invesco

SEATTLE — An entity that shares an address with Dallas-based Invesco Real Estate bought the Joseph Arnold Lofts, a 13-story. 131-unit apartment building at 62 Cedar St. in Belltown.

Invesco paid an entity related to The Schuster Group $68.2 million for the apartment building, or $520,610 per unit. The building opened last November.

Invesco Real Estate is the real estate arm of Atlanta-based Invesco, an investment management firm. Invesco Real Estate bought The Bravern Signature Residences in Bellevue for $308 million last year.

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