The 2400 N. 45th  LLC, in which Kauri is the managing member, sold its office building at 2400 45th Street North for $2.4 million and plans to move its headquarters to Bellevue. The LLC purchased the building in 2004 for $1.25 million.

This was an opportunity to make a good return for the investor members and an ideal time for Kauri,” said Kent Angier, president. “The majority of our staff lives in Bellevue so the move will shorten peoples’ commutes,” said Angier. The sale was not a 1031 transaction but Kauri continues to look for opportunities to acquire properties for development or re-development within the Seattle area.

Move On LLC who purchased the building will utilize the majority of the space as an owner/user. Tim Foster and Jeff Suver with Kidder Matthews brokered the transaction. 

About Kauri Investments, LTD. Founded in 1987, Kauri is noted for renovation, conversion and effective property management. The company has developed or substantially rehabilitated nearly 2,000 housing units. In addition to multi-family development, Kauri has diversified into mixed-use residential and commercial properties as well as expanding its capabilities to include fee development and real estate consulting. Kauri recently completed the Hyatt Place Seattle at Denny Way and 6th Avenue the brand’s first West Coast location and the conversion of Seattle’s historic Alaska Building into a Courtyard by Marriott hotel. The company will begin construction on a 48 unit apartment project in Fremont in February of this year.

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