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November 26, 2021

A bit more about Solara

As the DJC first reported in mid October, the 238-unit Solara in Lake City sold to national investor MIG Real Estate for $84 million. Brokers were not then announced, but CBRE later issued a press release. Its Jon Hallgrimson, Eli Hanacek, Frank Bosl and Kyle Yamamoto represented the seller, Sares Regis Group, which like the buyer is based in California. Hanacek said in a statement, “We received significant interest in Solara due to the highly desirable large floor plans, complete with traditional one-bedroom homes and an abundance of amenity space. Buyer appetite to invest in the Seattle market recovery is at an all-time high.” Down in CBRE's San Diego office, Bill Chiles, Scott Peterson and Brian Cruz arranged the acquisition loan. As reported last month, that over $62 million package came from Forethought Life Insurance.

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