Virtú Evergreen Fund, an open-ended fund managed by US multifamily real estate specialist Virtú Investments, has teamed up with the real estate arm of Goldman Sachs Alternatives to acquire the Skyglass Tower in downtown Seattle.
The partnership has invested an unspecified amount to acquire the newly constructed 31-storey glass-panelled multifamily tower.
The 338-unit high-rise in the South Lake Union neighbourhood is comprised of luxury studio units and one-to-three-bedroom units, three floors of underground parking, as well as retail space at ground level.
Michael Green, CEO of Virtú Investments, said: “Limited high-end multifamily supply and bottoming prices in the Seattle market makes this a great time for Virtú to invest opportunistically in this key area of the Pacific Northwest.
“We have decades of experience investing in multifamily buildings across market cycles, and are eager to continue identifying investment opportunities like these for the benefit of our stakeholders.”
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