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April 12, 2024

Pioneer Square's Olympic Block, mostly vacant, acquired out of foreclosure

Real Estate Editor

Image from BH Properties [enlarge]
The Lippy Building is at right (south) with green cornice. The north building was part of the deal, exclusive of 18 condos on the upper floors.

The two-building Olympic Block in Pioneer Square has been acquired by BH Properties, that firm announced yesterday. King County recorded the zero-dollar foreclosure sale late last month. The seller, via an LLC, was EverWest Real Estate Investors of Denver, which acquired the duo in the summer of 2019 for a little over $34.2 million. Chilean-based fund manager Frontal Trust was then also announced to be a partner in the ownership.

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