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Blackstone acquires 3 Seattle apartment buildings for $325M

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Blackstone acquires 3 Seattle apartment buildings for $325M

Blackstone Group LP acquired three apartment buildings in South Lake Union, Seattle, for a sum of $325 million, the Puget Sound Business Journal reported, citing public records.

According to the deeds, Japan-based Sekisui House Ltd.'s North America Sekisui House subsidiary sold its interest in the properties to Blackstone, with the developer Holland Partner Group retaining its ownership stake in the assets, the report noted Dec. 20.

The three complexes — One Lakefront, Westlake Steps and Marina SLU — have a total of 730 apartment units. One Lakefront was bought for $155 million, while Westlake Steps and Marina SLU were purchased for a total price of $170 million.