The Sobrato Organization (TSO) has acquired the Park Metro Apartments in Bellevue, Washington. With 70 years of leadership, this acquisition is an addition to the company’s presence in the Puget Sound region.
Highlights
- Park Metro Apartments is a six-story building featuring retail space and underground parking in downtown Bellevue.
- The Sobrato Organization, a Silicon Valley-based family-owned firm, expanded its portfolio with the acquisition.
- A team of Institutional Property Advisors (IPA) brokered the sale.
Acquisition of the Park Metro Apartments by The Sobrato Organization
The Sobrato Organization announced the acquisition of the Park Metro Apartments at 11101 NE 12th St, Bellevue, WA 98004, United States.
“We are proud to expand our Bellevue footprint, adding a high-quality asset to our growing multifamily portfolio,” said Chad Froman, Sobrato Co-Chief Real Estate Officer. “Park Metro Apartments is a unique property where residents can enjoy the benefits of living in a thriving community that offers easy access to employment, public transit, medical services, and retail.”
The acquisition further strengthens The Sobrato Organization’s footprint in the Puget Sound market. The acquisition is consistent with the company’s strategy of investing in high-quality multifamily in the prosperous urban centers that expand its national real estate portfolio.
Earlier this year, TSO entered the Bellevue market for the first time with the acquisition of Soma Towers. On a national scale, the company’s portfolio now includes roughly 7,600 residential units spread across more than 35 properties.
Glimpse of the Multifamily Property
Built in 2014, the six-story Park Metro Apartments combine residential units with retail space in a prime downtown Bellevue location. The property features 78 studio, one-, and two-bedroom apartments with high-end finishes, alongside two retail spaces and two levels of subterranean parking.
Residents enjoy a rooftop terrace and fitness center, with easy access to nearby employers, parks, and shopping.
The team of Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of Institutional Property Advisors (IPA) brokered the sale.
The Sobrato Organization (TSO) is a multi-generational, family-owned firm with nearly 70 years in real estate, investment, and community development. The company has three strategic arms, namely the Real Estate and Development, Sobrato Capital, and Sobrato Philanthropies, that strive to achieve the same objective of establishing sustainable social and environmental change.
