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One Thousand 8th Ave Apartments Sell for $61M

Acadia Capital Corporation Purchases Investment Property
By Michael Verostek
July 27, 2011 | 6:06 P.M.

The Bascom Group LLC and Rockwood Capital LLC, co-owners of 1000 8th Ave. in Seattle, Washington, have recently sold the 333,000-square-foot apartment complex to Acadia Capital Corporation for $61 million, or about $173,000 per unit. Originally constructed in 1949, the two-building, 351-unit property was renovated in 2007, and was about 97 percent occupied at the time of sale.

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