Seattle Apartment High-Rise’s $225.3 Million Sale Sets Per-Unit Record

October 27, 2017

Weidner Homes acquires Tower 12

Continental Properties’ 34-story apartment building near Pike Place Market sold to Kirkland-based Weidner Apartment Homes for nearly $225.3 million Friday.

The Tower 12 Apartments building, named after Seattle sports fans known as the 12th Man, has 313 units on Second Avenue and Virginia Street in downtown Seattle.

Rents for units are listed from $2,460 to $6,600 per month on the Tower 12 website and range from 571 to 1,825 square feet.

Tower 12 is among many new developments near Pike Place Market.

Equity Residential is nearing completion on a new 40-story luxury tower with 398 units at 204 Pine St., while Touchstone Corp. in 2016 finished a hotel and apartment project on First Avenue and Stewart Street.

Tower 12’s sale sets a nearly $719,649-per-unit record for apartment sales.

The region’s record of $676,923 a unit, was set in 2013 with the sale of the Bravern apartments in downtown Bellevue.

Seattle’s per-unit record was set in 2014 with the sale of the Martin high-rise in Belltown, which sold for…

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