Queen Anne Apartments Change Hands in Chapter 11 Bankruptcy Deal - Connect CRE

Queen Anne Apartments Change Hands in Chapter 11 Bankruptcy Deal - Connect CRE

Seattle-based developer Vibrant Cities has lost control of Roystone, a newer 93-unit mixed-use building located at the base of Queen Anne Hill. The eight-story property at 5 W. Roy St. was transferred via a trustee’s deed in a Chapter 11 bankruptcy sale. The buyer’s address corresponds to Citymark Capital of Cleveland. The recorded sale price was $0, though the property is assessed at $27.1 million, reported the Puget Sound Business Journal. The…

Citymark Capital of Cleveland Acquires 97-Unit Roystone Apartments in Seattle in Bankruptcy Sale - The Registry

By The Registry Staff An apartment complex in Seattle has traded hands in a bankruptcy sale. Seattle-based developer Vibrant Cities has lost ownership of its four-year-old mixed-use apartment building, Roystone Apartments, according to King County public records. The Roystone property was transferred via a trustee’s deed to an entity with the same address as Citymark Capital in Cleveland, Ohio, which is a real estate capital markets platform foc…