Source: HASTA Capital / #Apartments #Multifamily
SEATTLE, WA - A joint venture of HASTA Capital and Galium Capital has acquired 95 Burnett, a 106-unit multifamily property in Renton, WA. Built in 2006, the property is elevatored, podium construction over two levels of parking.
95 Burnett is located 1.5 miles from Boeing’s 737 assembly facility and in close proximity to the Southport mixed-use development currently under construction on three class A office towers. HASTA and Galium plan extensive renovations to 95 Burnett’s amenities and significant upgrades to the property’s apartment units.
95 Burnett is HASTA Capital’s 6th US multifamily acquisition in the past year and follows recent acquisitions in Washington, DC and Houston, TX.
“Seattle’s strong employment growth and domestic migration continue to fuel robust demand for rental housing,” said Mark Hafner, CEO of HASTA. “95 Burnett is a prime example of our strategy of acquiring high-quality, well-located assets in targeted markets and generating alpha through implementation of our operational and capital improvement strategies.”
“95 Burnett is a magnificent property in one of the best markets for residential rentals in the country,” said Jacques Bessoudo, Managing Partner of Galium. “It is one of the best properties in the sub-market, with immense potential for additional value.”