UPDATE: Goldman Sachs plans to buy Seattle’s historic Smith Tower in $750m portfolio transaction

New York–based financial firm Goldman Sachs has plans to acquireSeattle’s historic Smith Tower as a part of a $750 million portfolio of properties throughout the Seattle and Denver areas, according to news sources. Seattle-based Unico Properties bought the Smith Tower in 2015 for $74 million. However, no transaction has occurred, nor have arrangements been finalized.

The other  properties in the portfolio have not yet been disclosed.

Built in 1914, the Smith Tower was the tallest building on the West Coast when it was built. It also has historical landmark protections that prevent major redevelopment; however, Unico invested money into a renovation recently, redoing the observation deck.