The Sobrato Organization Acquires the Park Metro Apartments in downtown Bellevue, WA

The multifamily building expands the Company’s Puget Sound portfolio

The Sobrato Organization (TSO), a multi-generational, family-owned firm based in Silicon Valley, today announced the acquisition of the Park Metro Apartments, located at 11101 NE 12th Street in Bellevue, Washington.

The Class A multifamily asset was built in 2014 and is conveniently located near major employment hubs, outdoor recreation areas and abundant retail amenities. The six-story building includes 78 residences, two separate retail spaces and two subterranean levels of parking. It offers a mix of studio, one- and two-bedroom apartment homes with high-end finishes.  On-site residential amenities include a fitness center and a roof terrace. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of Institutional Property Advisors (IPA) brokered the sale.

“We are proud to expand our Bellevue footprint, adding a high-quality asset to our growing multifamily portfolio,” said Chad Froman, Sobrato Co-Chief Real Estate Officer. “Park Metro Apartments is a unique property where residents can enjoy the benefits of living in a thriving community that offers easy access to employment, public transit, medical services and retail.”

Earlier this year, TSO made its first acquisition into the Bellevue submarket with its purchase of Soma Towers, further expanding its presence in the Puget Sound region. Nationally, the Company owns approximately 7,600 residential units across more than 35 buildings.