With vintage charm aplenty,120 First Hill units sell for $25M

Seattle-Based Gibraltar Sells First Hill Apartment Building for $25M

A California-based national property manager has purchased an apartment building in Seattle’s First Hill neighborhood for $25 million. The 164,000-square-foot, 10-story building sits on a 0.3-acre lot. The property, known as The Exeter, is located at 720 Seneca St. and is a 120-unit apartment building built in the 1920s as a luxury hotel. The seller, Seattle-based property management firm Gibraltar, purchased the property in 2016 for $33.2 milli…

Red Tail Acquisitions Buys 115-Unit Exeter House Apartments for $25MM in Seattle’s First Hill

The 1927 property traded at roughly $217,400 per unit, well below comparable recent multifamily sales across Seattle’s urban core. An entity affiliated with Red Tail Acquisitions, which is itself affiliated with Trinity Real Estate, has purchased the Exeter House Apartments, a 115-unit, 10-story apartment building at 720 Seneca Street in Seattle’s First Hill neighborhood, for $25 million. The transaction closed on March 23, 2026, according to Ki…

With vintage charm aplenty,120 First Hill units sell for $25M

The century-old Exeter apartments, at 720 Seneca St., sold last week for $25 million, according to King County records.