Citing a desire to "rebalance our portfolio and to harvest some profits," Vulcan Real Estate has put six (SIX!) Seattle apartment complexes (1,060 units) up for sale. While five of the properties are on the open market, the 188-unit Martin tower in Belltown is already under contract to an unknown buyer. The other five buildings, all located in South Lake Union, include the 161-unit Alcyone, 172-unit residential potion of Alley24, 52-unit Borealis, 208-unit Rollin Street Flats and 278-unit Stack House. Considering the development boom happening all around these properties, expect to see some seriously big offers roll in. Harvest away, Vulcan. Harvest away.
· Vulcan puts 6 big Seattle apartment buildings up for sale [PSBJ]
Image: The Martin, via Vulcan