HB Management unloads 40-unit property near transit station as part of $16 million land swap with Issaquah retailer

Tax-deferred real estate exchanges have become a familiar strategy for property investors navigating Seattle’s shifting landscape, but the transaction that closed last week near the Roosevelt light rail station illustrates how major corporate expansion plans can ripple through the residential market in unexpected ways.

HB Management of Seattle sold the Mio Apartments at 1319 NE 65th St. for $6.2 million to a Seattle-based entity, according to King County public records. The four-story building, constructed eight years ago, contains 40 apartment units averaging 439 square feet each, situated two blocks from the Roosevelt light rail station. All units are currently occupied w

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