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June 15, 2024
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The Mondivan Group Pays $633k/Unit for Seattle Res Community


The Mondivan Group, a Vancouver, British Columbia-based boutique real estate development company, purchased SOLIS, a multi-award-winning multifamily project, including NAIOP’s Multifamily Development of the Year in 2020, located in the Capitol Hill submarket of Seattle, WA.for $28.5 mil ($633k/unit). SOLIS also features 6k sf of retail space, an expansive rooftop garden, subterranean parking, and an iconic 75-foot-tall mural by artist acclaimed artist, FinDAC.

Built in 2020, Solis achieves dramatic reductions in energy use – 50% below the US multifamily median, by using conventional materials in innovative ways including pairing an enhanced building enclosure with top-notch mechanical system for exceptionally comfortable and healthy units.

SOLIS is located at 1300 E Pike St in the heart of the Pike/Pine corridor of Capitol Hill, a dense urban neighborhood of Seattle. Built to Passive House* energy standards, the sustainable property combines uniquely modern, next-generation design with an urban lifestyle, and is conveniently located near many popular amenities, boasting a 99 Walk Score.

The property includes 45 residential units comprising a nice mix of studio, one-bed/one-bath, one-bed + den/one-bath, and two-bed/one-bath units. Each unit is fully equipped with advanced climate control and Energy recovery ventilation for improved indoor air quality.

Capitol Hill is filled with an eclectic collection of eateries, together with many popular cafés and coffee shops. There are also several retail and shopping destinations, as well as parks and entertainment venues.

Sam Wayne, Tim McKay, Matt Kemper, and Dan Chhan of Cushman & Wakefield’s Multifamily Capital Markets in Seattle represented the seller, SolTerra, an award-winning boutique builder. SOLIS was originally planned as a for-sale condo project but pivoted to a rental property during summer 2019.

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