Swift Real Estate Partners recently closed on two Pacific Northwest acquisitions in deals totaling $30.5 million.
The acquisitions were made through Swift’s second Fund, SREP II, a $400 million, value-add real estate fund launched in September 2015. SREP II has already received commitments of $222.5 million with a pipeline of another $130 million expected to close in the coming weeks.
Swift’s second fund is a follow up to its inaugural fund, which raised $329 million of equity.
The recently acquired Pacific Northwest properties include office properties in Portland and Bellevue, a suburb of Seattle. The Portland properties include the four-story Merchant Hotel building, two-story Norton House building and two-story Captain Couch building, all located in the city’s Old Town submarket. The Bellevue acquisition
was a three-story building located at 915 118th Ave. SE.
San Francisco-based Swift is pursuing value-add office investments in the western U.S., focused in the San Francisco Bay area, southern California and the Pacific northwest.