SEATTLE, WA – American Capital Group, announced the acquisitions of 700 Broadway and Vantage Park, two multifamily communities located in Seattle s Capitol Hill neighborhood, for a combined buy price of $68,350,000.
Both properties are centrally located in urban Seattle and are within walking distance to several of the city s major employment centers, abundant amenities and educational and health care institutions. ACG will implement a capital improvement program, renovating common areas and interior units and improving the appeal of each community.
ACG anticipates increased demand for high quality, well-located housing in urban markets as residents continue to value efficient commute times and proximity to work, entertainment and education, said BJ Kuula, President, ACG.
Seattle s urban core continues to experience a high concentration of job opportunities, driven by the technology, health care and higher education industries. 700 Broadway and Vantage Park are proximate to downtown Seattle s largest employers, including Amazon, Google, Facebook and Apple, in addition to several hospitals and health care centers, which provide more than 24,000 jobs to the area.
We see significant opportunity for value creation and operational upside in these communities and will leverage our market expertise to reposition these properties to make an elevated living experience for both current and future residents, said John Lo, Acquisitions Manager for ACG.
700 Broadway is located in Capitol Hill s Broadway retail corridor and is within walking distance to the CBD and South Lake Union, major employment hubs for Seattle. Built in 2004, the property features 59 units spanning studio, one- and two-bedroom interiors. The property also includes 10,683 square feet of ground floor retail space, which is 100% occupied at the time of buy. Amenities include a fitness center, a private courtyard, barbeque and picnic areas and 24-hour concierge.
Vantage Park, a 91-unit community, lies within the south Capitol Hill neighborhood, one of the city s most attractive submarkets. The property is near several health care employers including Swedish, University of Washington Medicine and The Polyclinic. Vantage Park is also proximate to Seattle University and Seattle Central College, which combined enroll 23,000 students. Built in 2001, the community features premier amenities including a roof deck with city and water views, an outdoor courtyard and a fitness center.
The communities are near major transit options in Seattle, including the city s light rail, street car and bus lines. Each property is a small drive to I-5 and I-90, providing connectivity to the surrounding areas of Bellevue and Everett, which offer additional job opportunities as many technology companies go to the area.
The acquisitions add to ACG s growing portfolio in Washington. The firm recently opened the 409-unit Uplund Apartments in Totem Lake and announced a new development project, Kinect @ Burien, slated for completion in 2023.

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CARROLTON, TX – Benefit Street Partners Multifamily Trust, an open-finished, continuously offered, multifamily REIT, announced the acquisition of Olympus on Broadway, a 390-unit class A multifamily apartment community in Carrollton, Texas.
Olympus on Broadway, now rebranded as LYV Broadway, is a newly constructed transit-oriented multifamily community in the heart of Historic Downtown Carrollton, Texas and is composed of studios, one- and two-bedroom units. The highly amenitized asset offers cutting edge luxury with quartz countertops, stainless steel appliances, a dynamic two-tale fitness center, resort style pool, and multiple lounge and courtyard spaces for relaxing, entertaining, or working.
The property also offers 6,048 square feet of live-work space providing residents an opportunity to connect with the neighborhood and the larger Carrollton community. The property s location is within walking distance to lively neighborhood dining and entertainment destinations as well as the Downtown Carrollton DART Station.
The Olympus on Broadway transaction represents exactly what BSPMT is targeting for acquisitions: a class A asset in an established, growing metropolitan area in Dallas and within one of the leading submarkets experiencing strong rent growth, said Mike Comparato, Head of Real Estate at Benefit Street Partners.

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LARKSPUR, CA – Catalyst Housing Group partnered with the California Community Housing Agency to buy Summit at Sausalito, its 14th Essential Housing property. The acquisition marks Catalyst’s fifth of the summer, all part of their statewide push to permanently transition market-rate housing to rent-restricted communities serving middle-income households.
“Our unique financing model, and partnership with multiple state agencies, enable us to protect existing tenants from the threat of displacement while providing communities with an immediate supply of desperately-needed middle-income housing,” said Catalyst founder Jordan Moss. “The long-term community benefits will prove to be as impactful, where all economic upside is transferred directly to our portfolio’s underlying municipalities.”
Launched in 2019, Catalyst’s innovative model spawned California’s first governmental entity focused exclusively on middle-income housing production. This entirely new asset class, which Catalyst coined “Essential Housing,” provides affordable rental housing to California’s essential workforce – the nurses, teachers, first responders, civil servants and others who increasingly earn too much to qualify for traditional affordable housing, yet not enough to live directly within the communities they serve.
With picturesque views of the Bay, Summit at Sausalito (198 units) joins Fountains at Emerald Park (324 units, Dublin), The Breakwater Apartments (400 units, Huntington Beach), Elan Huntington Beach (274 units, Huntington Beach), and The Exchange at Bayfront (172 units, Hercules) as Catalyst’s most recent acquisitions. Over the past two years, Catalyst’s Essential Housing acquisitions total more than $2 billion and 4,000 units of premier multifamily rental communities bought to address California’s growing income inequality and the related middle-income housing crisis.
“We are proud that Marin is home to two Catalyst properties,” said Marin County Supervisor Stephanie Moulton-Peters. “It is crucial for Southern Marin to take care of our renters, especially given the impacts of the pandemic, and this an vital strategy to further racial equity in our county while helping us meet our affordable housing goals.”
To complement its acquisition in Sausalito, Catalyst has formed a partnership with the Marin City Sausalito School District and seeded it with a $100,000 contribution to Essential Housing Fund, Catalyst’s nonprofit arm. The donation will provide additional rental subsides to local elementary and middle school teachers, as well as other District employees.
“We are thrilled to partner with Catalyst and appreciate their recognition of how teachers and other essential workers are so integral to our communities,” said Itoco Garcia, Superintendent of the Sausalito Marin City School District. “A key part of our strategy to successfully desegregate the District is our Culturally Responsive Educator Equity Development Teacher of Color pipeline program. This partnership with Catalyst will allow us to attract and retain high quality teachers of all backgrounds, and especially teachers of color and bilingual teachers, to our community. It’s untenable for teachers to spend so much of their income on rent and so much of their time commuting from lower cost regions. Many of our staff spend up to two hours a day in the car to serve the students and families of our community. This partnership will keep SMCSD employees out of their cars and placing them directly within their community, two key factors for a climate & social justice focused school district.”

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