Seattle developer adds multifamily, office space

Plans to create luxury units at apartment complex

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Mastro Properties recently purchased an apartment complex and an office building in the Seattle metro area for a combined price of $34.7 million. Mastro acquired the Waterview Apartments in Kirkland for $18.7 million and the Plexus Office Building in Bothell for $16 million. "We're planning an upgrade of the Waterview Apartments, creating 45 high-end units," Mastro's CFO Gary English said. "This is the fifth apartment complex purchased by Mastro Properties in less than 12 months representing a total of 392 units." Mastro Properties has reached year-to-date sales of $130.1 million and acquisitions totaling $106.4 million, according to a press statement. Mastro Properties has developed and constructed more than $1 billion of real estate products throughout Puget Sound since 1967. Projects include sub-division infrastructures, apartments and condominium units, medical, retail, high-tech flex space, warehouse, water theme parks, hotels, senior housing facilities, and mid- to high-rise...