PORTLAND, OR – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Premiere on Pine, a 386-unit, 40-story ultra-luxury apartment tower in Seattle’s Pike-Pine retail corridor.
HFF marketed the asset on behalf of the Holland Partner Group and its finance partner.
Premiere on Pine is situated at the intersection of Pine Street and 8th Avenue within two blocks of Interstate 5 and Westlake Station, the Puget Sound’s most heavily-traveled transportation hub. Completed in 2014, the LEED Silver-certified tower has studio, one-, two- and three-bedroom condominium-quality units averaging 797 square feet each. The property also encompasses 3,385 square feet of ground floor retail and has amenities such as a fitness center, dog run, theatre room, club room, conference room, two event spaces and a 3,000-square-foot balcony that wraps around the south and west side of the building providing panoramic views of the surrounding area.
The HFF team representing the developer was led by executive managing director Matthew Lawton, managing director Ira Virden and senior managing director Gerry Rohm.
About Holland Partner Group
Founded in 2000, Holland Partner Group (HPG) based in Vancouver, Washington, is a fully-integrated real estate investment company. Current assets under management and development represent approximately $5 billion in 25,000 apartment homes located in the western United States’ most sought after markets. The company accomplishes its investment objectives in strategic alignment with its capital partners through its five integrated operating companies, including development, construction, acquisition, redevelopment and management. HPG’s combined business volume in 2014 exceeded $1 billion.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.