SEATTLE — Equity Residential has completed the disposition of Urbana, a seven-story multifamily property in Seattle. Carmel Partners acquired the property. The sales price was nearly $121 million, according to local media reports. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged acquisition financing for the buyer.
Built in 2014, Urbana offers 289 apartments, two rooftop decks, a resident lounge with theater, a dog run and pet spa, bike storage and a gated parking garage, as well as 29,884 square feet of street-level retail space occupied by Verizon Wireless, Papa John’s, Five Guys and Planet Fitness.