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Case Studies / Colina
sold
Colina
Established a new Seattle submarket through a marquee sale to an institutional buyer
- Minted a new submarket through the sale of a TOD property to an institutional buyer
- Set record pricing in a new submarket despite challenging capital markets
Case Study
CHALLENGE:
Our client, a local Seattle developer, built an institutional quality mixed-use TOD property in the Seattle-adjacent, emerging market of Beacon Hill. The timing of our marketing of Colina was immediately post-COVID when most investors were biased against properties with a Seattle address. Despite a bias against Seattle, and institutional investors’ unfamiliarity with Beacon Hill, our creative and broad marketing campaign attracted a large buyer pool to tour the property and recognize its attributes.
WHAT WE DID:
Our marketing efforts focused on overcoming the stigma associated with urban Seattle and emphasized a future narrative we created for Beacon Hill. Our team crafted a story that highlighted the quality of the development, showcased the charm of Beacon Hill as an urbanizing neighborhood, and proved that transit access to both Seattle and Bellevue would result in above-market rental rate growth and investor returns.
RESULT:
Our marketing resulted in more than 30 tours, 12 validated offers, and multiple rounds of bidding to achieve a sales price that beat all market expectations. Despite changes in capital markets and resultantly high interest rates, we achieved record pricing for our client. Our team’s success in this sale established us as the go-to team for private sellers looking to sell to institutional buyers.
Site Details
"Dylan, Matt & Jerrid did a terrific job marketing and selling our apartment building in a turbulent capital markets environment. Their marketing materials, process and consistent communication through the sales process were best-in-class and we’d highly recommend them to any apartment owners.”
–Jonathan M.
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