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October 2, 2015

Verve apartments sold for $78M

By JOURNAL STAFF

SEATTLE — An entity related to Clarion Partners bought Verve, a new apartment building at Fourth and Denny, for $77.7 million, property records show.

Columbia Pacific Advisors said in a press release it co-developed the 13-story, 161-unit building with HB Management. Columbia Pacific and HB got approximately $482,696 per unit for the complex at 2720 Fourth Ave.

The building opened in 2014.

The average unit in the building is 678 square feet and there is 6,400 square feet of retail space.

David Young, Seth Heikkila, Corey Marx and Matt Kemper of Jones Lang LaSalle's brokered the transaction.




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