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September 29, 2009
GE Capital Real Estate is teaming with a local brokerage to try to sell 63 units in Seattle's Decatur condo complex by offering auction-like discounts without the auction if buyers purchase in bulk.
GE acquired the condos at the 1105 Spring St. building on First Hill in April when a limited liability company associated with condo converter Jeffrey Wysong conveyed the units to it in lieu of foreclosure on a loan made to the LLC, according to public records. The original June 2006 loan was nearly $33.2 million.
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