Seattle Office Building Commands $330M

A German investment firm is the new owner of Midtown21, a 21-story tower MetLife Real Estate and Trammell Crow Co. developed in the high-growth Denny Triangle.
Union Investment has acquired Midtown21, a 21-story, Class A office building in Seattle, from developers MetLife Real Estate and Trammell Crow Co., for $330 million.

The acquisition will be transferred to the holdings of open-ended real estate fund Unilmmo: Europa, which focuses on investments in Europe but occasionally buys properties overseas.

“Midtown21 is one of the most prestigious newly constructed office buildings in the Denny Triangle submarket and makes an ideal addition to our U.S. portfolio,” Matthew Scholl, Union Investment Real Estate GmbH’s head of investment management Americas, said in a prepared release. “In Midtown 21’s lead tenant, we have a truly global company with very strong ties to the city of Seattle who has not only played a significant role in boosting the economic growth of the country, but of the entire region.”

The fund also owns Seattle-based properties, Amazon Phase VI office building and Hilton Garden Inn Hotel…

Seattle Office Building Commands $330M


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