redIQ Deal Highlight: Blackstone Acquires Ascent South Lake Union and Marlowe
redIQ Deal Highlight: Blackstone Acquires Ascent South Lake Union and Marlowe
redIQ would like to congratulate the team at Blackstone for finalizing the acquisition of Ascent South Lake Union and Marlowe in Seattle, WA for $303 million. The two Seattle apartment communities were purchased from Greystar. Both assets began development in 2016 by Greystar in a project financed by Bank OZK.
The Seattle area has an intense demand for housing, as a technology hub with the headquarters of Amazon and Microsoft. This demand has put Seattle in the top 10% nationally for real estate appreciation. Other recent transactions in the area include Skyglass Tower and Main Street Flats.
About redIQ
For over ten years, redIQ has provided a comprehensive and dependable underwriting service for multifamily acquisitions teams, brokers, and lenders focused on mid and large-size assets. redIQ's solutions lead the industry and support the full underwriting process, from standardizing financial documents to producing a final valuation. With our system, analysis takes less time and decision makers can move forward with greater confidence. redIQ users can close more deals, produce better returns, and spend less time worrying about downside.
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