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January 29, 2026

Lender confirms SLU sale details

By JOURNAL STAFF

As the DJC reported late last month, a 100-unit apartment building in SLU then sold for about $32.5 million, with PGIM Real Estate and Interstate Equities being the new owners. Mesa West Capital supplied a nearly $24.4 million loan, as we reported. The name of the building, at 717 Dexter Ave. N., has changed many times, but a press release from Mesa West now brands it unequivocally as the mResidences South Lake Union. The lender also says that Eastdil Secured arranged the loan, or loans, since the SLU deal was part of a four-building, 574-unit national portfolio sale. The other three properties are in the Bay Area. (Oakwood Worldwide and Mapletree Group were the sellers.) The total loan amount was over $201 million, says Mesa West. Its Josh Westerberg said in a press release, “Both the San Francisco Bay Area and Seattle benefit from dynamic tech employment hubs that drive economic and job growth. All four properties are located in prime infill neighborhoods with strong multifamily market fundamentals.”


 
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