The Ballard Independent apartment building has changed hands less than two years after opening.
According to the Puget Sound Business Journal, the 238-unit property at 2245 NW 56th St. sold for $152 million. King County recorded the sale on Tuesday.
The seller was an entity affiliated with Holland Partner Group and NASH, the North American subsidiary of Sekisui House. The buyer was an entity affiliated with global real estate investment manager BentallGreenOak (BGO).
The seven-story apartment building opened in December 2024 after Holland and NASH acquired the site in 2022 and redeveloped the property.
The development replaced buildings that were heavily damaged in a 3-alarm fire in 2019. The redevelopment also added new ground-floor commercial space along N.W. Market Street, which is now home to businesses including Caffe Ladro and the future Exit 5 Korean BBQ restaurant.
According to the Puget Sound Business Journal, the property’s assessed value is about $107 million.
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