Columbia Pacific Advisors sells Seattle-based Verve.
BANKING AND CREDIT NEWS-October 7, 2015-Columbia Pacific Advisors sells Seattle-based Verve
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Columbia Pacific Advisors, LLC, a Seattle-based alternative investment firm, said it has completed the sale of Verve, a multi-family property in downtown Seattle's Belltown neighborhood, to an undisclosed buyer.
Columbia Pacific's development team led the construction and lease-up of Verve, which broke ground on the 13-story development in April 2013 and completed construction in the fall of 2014. The building achieved stabilized occupancy in mid-2015. The Class A core multifamily property contains 161 distinct studio, one and two bedroom floorplans at an average size of 678 square feet.
Verve was co-developed with HB Management and Jones Lang LaSalle's Seattle Multi-family Team was the exclusive broker for the transaction.
Columbia Pacific Advisors, LLC manages more than USD1.0 billion across a variety of alternative investment strategies including private real estate, private equity, distressed debt and special situation lending.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Oct 7, 2015|
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