Dec
04
Downtown Seattle Office High-Rise Changes Hands
ByUnion Investment sold the 20-story Millennium Tower, which also includes high-end condo residences. The property last traded in 2003, for $64.8 million.
A property fund managed by TH Real Estate has purchased Millennium Tower, a 20-story, 201,371-square-foot office building in downtown Seattle, it was announced on Friday by the seller, Union Investment, of Hamburg, Germany.
The property located at 719 Second Ave. is reportedly fully occupied and had been a part of Union Investment’s portfolio since 2003, about two years after it was completed. According to Yardi Matrix data, Union Investment paid roughly $64.8 million to Beacon Capital Partners for the asset 14 years ago…
