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Virtu Investments Pays $109M for Seattle-Area Asset

Claudia Baldwin

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Cerasa. Image courtesy of IPA

Virtu Investments has bought the 154-unit Cerasa in Bellevue, Wash., for $109 million. The seller was Evergreen Point Development. Marcus & Millichap’s Institutional Property Advisors division brokered the sale on behalf of the seller and procured the buyer.

Completed in 2018, the community offers studios, live-work and one- and two-bedroom floorplans, ranging from 443 to 1,185 square feet, according to Yardi Matrix data. Each unit features high-end finishes, while select units have private decks, terraces or balconies. Community amenities include a fitness center and clubhouse. A total of 166 parking spaces are also available.

Located at 10961 NE Second Place, the property is close to downtown Bellevue, a dense tech employment hub. Several retail, dining and entertainment options can be found within a 1-mile radius. Amazon Everest (SEA82) is less than half a mile northwest, while Bellevue Downtown Park is 1 mile west. Downtown Seattle is some 11 miles west.

Philip Assouad, executive director, along with Giovanni Napoli, senior managing director, formed the IPA team that brokered the sale. The transaction marked the brokerage’s second deal in four months, in downtown Bellevue, working with the buyer.

Active in other western markets as well, Virtu Investments bought the $151.3 million Reve Boulder in Boulder, Colo., last spring. The mixed-use property has 242 units, as well as 17,500 square feet of retail space.

The post Virtu Investments Pays $109M for Seattle-Area Asset appeared first on Multifamily Real Estate News.

Original Source: multihousingnews.com

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Rajapaksa Swears in 4 Cabinet Members Amid Sri Lanka Crisis

Claudia Baldwin

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Sri Lanka’s president swore in four new Cabinet ministers Saturday in an effort to ensure stability until a full cabinet is formed in the island nation engulfed in a political and economic crisis. President Gotabaya Rajapaksa swore in new ministers…

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Your Community: Elementia Issue Xix Is Now Available

Claudia Baldwin

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The 19th issue of elementia, featuring amazing writing and artwork on the evocative theme of “the unknown,” is now available at Johnson County Library branches. elementia is Johnson County Library’s award-winning teen literary

Source: shawneemissionpost.com

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Claudia Baldwin

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