SEATTLE, Wash. (January 29, 2019) – A former Mack Real Estate Group executive, together with his former Mark Urban colleague, have completed their first transaction together along the Stone Way corridor between Fremont and Wallingford.
HTS Wally LLC, an affiliate of Mark Holdings LLC, purchased the Wally Apartments at 4111 Stone Way N earlier this month for $9.925MM.
Completed in 2013, the building contains 27 residential units and two retail spaces. Designed by Weber Thompson, the project was built by MRJ Contractors for Lake Union Partners. The retail tenants include Russell’s Tavern, a popular neighborhood pub and restaurant. It is located just north of the Brooks Sports and Tableau headquarters, and offers its tenants a quick commute to downtown, South Lake Union, and the University of Washington.
David Schore, Founder and President of Mark Holdings, said, “We are very excited to expand our portfolio into Seattle with this purchase. I have been quite bullish on Seattle since my first acquisition here in 2012 with Mack. Since returning my focus to Mark Holdings in 2017, we have been actively searching for the best way and time to re-enter the market. I am hopeful we can find more of these opportunities.”
Working with David on the transaction was former development executive from Mack Urban, T.J. Lehman, now the managing partner of Euclid Development. T.J. remarked, “David and I stayed in touch after we each left the firm. We knew Wally as a comp from when we did Velo, Ray, and Smith & Burns. When it became available, we jumped on it.”
About Mark Holdings LLCMark Holdings LLC is a real estate investment firm founded by David Schore in 1999 which specializes in real estate equity and debt asset purchases, property development and asset management. Since 1995, Mr. Schore has overseen and/or participated in excess of $2.8 billion of acquisitions, construction, financings and sales, including the development of over 2,300 units of low-, mid- and high-rise residential buildings and 1 million square feet of retail.
