American Capital Group expands multifamily portfolio with two Seattle acquisitions
American Capital Group has acquired 700 Broadway and Vantage Park, two multifamily communities located in Seattle’s Capitol Hill neighborhood, for a combined purchase price of $68.35 million.
Both properties are centrally located in urban Seattle and are within walking distance to several of the city’s major employment centers, abundant amenities, and educational and healthcare institutions. ACG will implement a capital improvement program, renovating common areas and interior units and improving the appeal of each community.
“ACG anticipates increased demand for high-quality, well-located housing in urban markets as residents continue to value efficient commute times and proximity to work, entertainment and education,” said BJ Kuula, president of ACG.
Seattle’s urban core continues to experience a high concentration of job opportunities, driven by the technology, healthcare and higher education industries. 700 Broadway and Vantage Park are proximate