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In Rare Move, Apartments in Seattle's Eastlake Sell to Institutional Investor

Lake Union Property Trades at Same Cap Rate it Yielded in 2013

Eastlake 2851 was developed in 2018. (CoStar files)
Eastlake 2851 was developed in 2018. (CoStar files)

Lake Union remains one of the most sought-after parts of the Seattle area, but the area is often associated with South Lake Union. Without a doubt, South Lake Union is the main driver of apartment demand for the area, but neighborhoods like Eastlake have brought significant investment too, including a recent deal that marks the most expensive deal in the neighborhood since the last recession.

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