{"id":1004376632,"date":"2019-12-17T10:22:54","date_gmt":"2019-12-17T18:22:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004376632"},"modified":"2019-12-18T07:33:58","modified_gmt":"2019-12-18T15:33:58","slug":"intercontinental-real-estate-enters-seattle-with-157m-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/intercontinental-real-estate-enters-seattle-with-157m-buy\/","title":{"rendered":"Intercontinental Real Estate Enters Seattle With $157M Acquisition"},"content":{"rendered":"
\"Roosevelt<\/a>

Roosevelt Commons. Image courtesy of Intercontinental Real Estate Corp. <\/em><\/p><\/div>\n

On behalf of one of its managed funds, Intercontinental Real Estate Corp. has purchased Roosevelt Commons, a 229,299-square-foot office complex in Seattle. According to Yardi Matrix data, RREEF Property Trust sold the Class A portfolio in the metro\u2019s U District for $157 million. The deal marked the buyer\u2019s first commercial real estate acquisition in Seattle.<\/p>\n

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READ ALSO<\/strong>: Seattle Office Report \u2013 Spring 2019<\/a><\/p>\n

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Located at 4300 Roosevelt Way NE and 4311 11th Ave. NE, Roosevelt Commons is within walking distance of the new Link U-District light rail station. At the time of the sale, both buildings were fully leased. Per Yardi Matrix, WeWork and the University of Washington are among the tenants of the complex. One of the buildings has five stories, while the other mid-rise structure has six. The parking lot can accommodate up to 432 cars.<\/p>\n

With this acquisition, Intercontinental\u2019s portfolio in the Pacific Northwest has increased to approximately 300,000 square feet of commercial office space. Furthermore, the company owns more than 2,000 multifamily units in the same region.<\/p>\n

Jeffrey Weber and Jason Flynn from Eastdil Secured\u2019s San Francisco office acted on behalf of both parties in this transaction. Earlier this year, Flynn was also involved in the disposition of an 11-property office portfolio<\/a> in Seattle and Denver.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company is the new owner of a two-building office campus in the metro\u2019s U District.<\/p>\n","protected":false},"author":238,"featured_media":1004376635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,21742,21747,1610,15],"tags":[33101,32962,40396],"class_list":["post-1004376632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-latest","category-office","category-seattle","category-west","tag-eastdil-secured","tag-intercontinental-real-estate-corporation","tag-rreef-property-trust"],"acf":[],"yoast_head":"\nIntercontinental Real Estate Enters Seattle With $157M Acquisition - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/intercontinental-real-estate-enters-seattle-with-157m-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Intercontinental Real Estate Enters Seattle With $157M Acquisition\" \/>\n<meta property=\"og:description\" content=\"The company is the new owner of a two-building office campus in the metro\u2019s U District.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/intercontinental-real-estate-enters-seattle-with-157m-buy\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-12-17T18:22:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-12-18T15:33:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/12\/Roosevelt-Commons.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/intercontinental-real-estate-enters-seattle-with-157m-buy\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/intercontinental-real-estate-enters-seattle-with-157m-buy\/\",\"name\":\"Intercontinental Real Estate Enters Seattle With $157M Acquisition - 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