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June 3, 2011

Holland pays $17M for site on Dexter

By JOURNAL STAFF

SEATTLE — Records show that a limited partnership run by Holland Partner Group paid $16.7 million for land at 901 Dexter Ave. N. where Holland is planning to build a large apartment project.

The seller is a joint venture between two Seattle companies, HAL Real Estate Investments and Capstone Partners. HAL's Keith Maehlum said Capstone will continue to be involved in the project with Vancouver-based Holland.

Capstone and Holland officials could not be reached.

Last month, Holland Chairman and CEO Clyde Holland said he was planning a 285-unit, mid-rise project that Runberg Architecture Group is designing. Holland does its own general contracting.

A 1948 building where Korry Electronics operated occupies the 1.2-acre site. King County assesses the site at $8.37 million.




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