The Sobrato Organization has purchased the Park Metro apartments in Bellevue for $33 million, according to King County records. The deal was finalized on September 16 and marks the company’s second major acquisition in the city this year.
The Park Metro property, located at 11101 NE 12th Street, includes 78 residential units and a 2,502-square-foot retail space. Float Seattle, a float therapy center, currently occupies the retail portion. The complex also provides parking for 100 vehicles.
The sale price breaks down to $423,077 per unit. The seller was Northpoint Parkmetro LLC, an entity tied to San Francisco–based Northpoint Investors. The building had been assessed at $34.7 million.
Apartments at Park Metro range from studios to two-bedroom layouts, with sizes between 382 and 1,200 square feet. The property is fully leased. On-site amenities include a resident lounge, rooftop terrace, and fitness center.
This acquisition follows the Sobrato Organization’s purchase of Soma Towers in downtown Bellevue earlier this year. That two-part transaction with Su Development totaled $193 million.
