Waterton buys 371-unit, highrise, Skye at Belltown Apartments, in Seattle from Mill Creek, AEW JV

  • 4/16/2025

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Waterton has purchased Skye at Belltown, a 371-unit community in Seattle, bringing its footprint to 945 apartments in the city.

A joint venture between Mill Creek Residential and AEW Capital Management previously owned the property, according to Yardi Matrix data. The duo purchased the asset for $94 million in 2013. That transaction marked Mill Creek Residential’s first acquisition in Seattle.

Occupying an entire block at 500 Wall St., Skye at Belltown is roughly 1 mile away from the downtown area. The Denny and Olympic Sculpture parks, as well as the Space Needle, are within walking distance.

AEW Capital Management
Tom Mullahey | Head of Western U.S. Acquisitions
Mill Creek Residential
Sean G. Hyatt | Executive Managing Director, Development-Pacific NW/Northern CA
Mill Creek Residential
Kel Frazier | President, Acquisitions
Welker Properties
Chad Edwards | VP-Development

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