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Real Estate

Lynn Porter
Real Estate Editor
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May 3, 2007

Real Estate Buzz: BRE now owns full block on Denny

Special to the Journal

BRE Properties, a real estate investment trust that develops, acquires and manages apartments on the West Coast, now owns a full block near Fisher Plaza and the planned campus of the Bill and Melinda Gates Foundation.

The San Francisco-based REIT recently purchased a parcel at Denny Way and Sixth Avenue North on which a Bank of America building now sits. The bank sold the property at 566 Denny Way to BRE for $3.9 million, according to public records. That's $150 a square foot for the 25,900-square-foot lot or $250 a square foot for the 15,600-square-foot building.

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