May 15, 2015

Viktoria apartments is sold for $130M

Photo courtesy of Cary Kopczynski & Co [enlarge]

Viktoria, a 24-story apartment tower at 1915 Second Ave. in downtown Seattle, sold for $129.75 million, property records show.

Property records list the buyer is an entity that shares a Los Angeles address with TruAmerica Multifamily. Mark Enfield, chief administrative officer for TruAmerica, said it is managing the asset for a private buyer but he declined to name the buyer.

The 249-unit building opened past year.

The sale price is more than $512,960 per unit, which is one of the highest per-unit prices recorded in the region. According to Dupre + Scott Apartment Advisors, only five other apartment complexes have sold for more than $500,000 per unit, and all of those deals happened in the last two years.

Goodman Real Estate, Mack Urban and Capri Capital Partners were partners in developing the building. National Real Estate Advisors was the lender.

Weber Thompson designed Viktoria and Turner Construction Co. built it.

Other project team members are Cary Kopczynski & Co.; structural engineer; Hart Crowser, geotechnical engineer; KPFF Consulting Engineers, civil engineer; Rushing Co., mechanical/electrical engineer; Hawk Mechanical, plumbing engineer/contractor; Morrison Hershfield, building envelope; Walters & Wolf, curtain wall; MacDonald-Miller, mechanical contractor; Holmes Electric, electrical contractor; Patriot Fire Protection; and SSA Acoustics.

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