Seattle Luxury Condo Project

[Barry Chien]

Investment Info:

Condo buy & hold investment in Seattle.

Purchase price: $204,000,000
Cash invested: $60,000,000

I worked for a Hong Kong public company & high-end luxury residential developer and helped to develop a $204 million condo project called "The Graystone" which is in Seattle's First Hill District.

What made you interested in investing in this type of deal?

LA & San Francisco was already too expensive and crowded while Seattle checked all our boxes.

How did you find this deal and how did you negotiate it?

JLL broker

How did you finance this deal?

$15 million in EB-5 Financing, 25% equity contribution from our local Seattle development partner

How did you add value to the deal?

Due Diligence, Sourcing & Execution

What was the outcome?

A finished product.

Lessons learned? Challenges?

Tech layoffs may affect condo pricing