GT Capital and Freestone Capital Management Expand Seattle Footprint with Lock Vista Apartments Acquisition
In an exciting development for Seattle’s multifamily market, GT Capital and Freestone Capital Management have made a strategic move with the acquisition of Lock Vista Apartments, adding to their robust portfolio. Lock Vista, a 192-unit multifamily community in the historic Ballard area, solidifies the firms’ presence following their landmark acquisition of the Smith Tower and Butler Garage.
Jason Mann, Partner at Freestone, expresses enthusiasm about the synergy with GT Capital. “We’re thrilled to continue our partnership with GT Capital with Lock Vista. Lock Vista is a rare combination of character and location,” Mann states. “Ballard continues to attract high-income renters seeking access to waterfront amenities and proximity to the city’s major employers. This investment offers both immediate income and meaningful long-term growth potential for our investors.”
The strategically located Lock Vista positions renters just blocks from the urban heart of Ballard and near the Burke-Gilman Trail. The location, paired with sustained job and population growth in sectors like technology and healthcare, makes Lock Vista a valuable asset.
The community stands out with tangible appeal thanks to its classic brick façade, open courtyards, and scenic views, as well as a $13 million upgrade completed between 2018 and 2021, which modernized units and enhanced amenities. Such investments in the property not only ensure comfort and convenience for residents but also signal a commitment to the longevity and success of Lock Vista as a sought-after living space.
GT Capital’s Partner, Charlie Bauman, highlights this unique investment, affirming plans for environmental and operational improvements. “Lock Vista combines the calm of neighborhood living with urban amenities at the doorstep, creating a place residents want to stay for years. This is a rare opportunity to invest at scale in one of Seattle’s most desirable areas—and we couldn’t be doing it with a better partner than Freestone,” says Bauman.
GT and Freestone’s strategy to maintain and enhance Lock Vista aligns with their collective vision to provide high-quality living spaces while optimizing value for investors. Their collaborative approach underscores the potential for multifamily investments in flourishing urban neighborhoods and confirms GT Capital and Freestone Capital Management as key players in the ongoing evolution of Seattle’s living spaces.