Meriwether Breaks Ground on 50-unit Apartment Development
SEATTLE, September 15, 2012 – An investor group led by Meriwether Partners started construction on an apartment development located at 19th Avenue East and East Mercer Street in Seattle. The property is located in the Capitol Hill neighborhood and the development will include 50 apartment units, 6,300 square feet of retail space at street-level, and 47 parking stalls. Meriwether acquired the 18,906 square foot site in August 2012. Construction is scheduled to be complete by the end of 2013.
“We were attracted to the site and the opportunity to develop a boutique apartment building in a highly desirable neighborhood, targeting a rapidly growing demographic of affluent, urban renters,” said Joel Aslanian, principal at Meriwether Partners. “We’ve assemble an experienced development and construction team including Lake Union Partners as project manager, Weinstein AU as architect, and MRJ Constructor as general contractor.”
Meriwether Partners is a real estate investment firm with offices in Seattle and Portland. We form partnerships to acquire and manage real estate investments on behalf of the Meriwether principals, high-net worth individuals, family offices, and institutions.
Meriwether was founded in 2002 by Joel Aslanian and Robert Briscoe who have worked together since 1998. The company has acquired more than 2 million square feet of commercial real estate at a cost of over $250 million.
The firm’s primary investment focus is in the Seattle and Portland metropolitan areas. Meriwether invests in properties that are well-located with sound physical and economic fundamentals; properties that have the ability to generate attractive levels of distributable cash; and properties to which we can add value by executing recapitalization or repositioning strategies.