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Real Estate


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September 29, 2009

63 units in the Decatur complex will be sold in blocks of 21 units

By LYNN PORTER
Journal Real Estate Editor

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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