Laird Norton Properties Focuses On Environmentally Sustainable Projects With Acquisition Of Stream Properties

SEATTLE, Dec. 8, 2021 /PRNewswire/ -- Laird Norton Properties (LNP), a Seattle-based real estate investment firm, announced today the acquisitions of Stream 15 and Stream Belmont, located in Seattle, Washington. Built with a net zero carbon footprint, both properties are recognized for their commitment to sustainability and minimal environmental impacts combined with sophisticated modern designs.

"Laird Norton Properties is committed to environmentally friendly and sustainable projects. These properties easily aligned with our own values and focus areas," said Jim Reinhardsen, President. "As we continue to grow a diversified portfolio, we will continue to look for opportunities to invest in properties that are, or which we can evolve into, long-term sustainable assets."

Laird Norton Properties (LNP) and Heartland LLC, both integral parts of the Laird Norton Enterprise, worked together to identify the two acquisitions. Heartland, which provided advisory and brokerage services to LNP on these transactions, will act as LNP's asset managers for both properties.

Stream 15, completed in 2015, is a 34-unit project located in Seattle's North Capitol Hill neighborhood, with 3,105 square feet of ground floor retail, and a spacious private roof terrace with barbeques, community gardens, and territorial views. The project is located at the north end of the 15th Ave retail corridor, known for boutiques and cafes, and as a quieter alternative to the areas of Capitol Hill closer to Broadway. The 23,000 square foot property is LEED GOLD certified and was built 100 percent carbon neutral as part of Forterra's Carbon Capture program. 

Stream Belmont, completed in 2014, is a 70-unit project located in Seattle's North Capitol Hill neighborhood, with an expansive roof terrace featuring westward views of the Space Needle, downtown Seattle, and the Olympic mountains. The asset is within close walking distance of Broadway, LINK light rail, and the Microsoft Connector. The 37,000 square foot asset, which previously was honored with Green Builder's prestigious "Home of the Year" award, is also LEED GOLD certified and was built 100% carbon neutral as part of Forterra's Carbon Capture program. 

"As we continue to expand the multifamily portfolio, we strongly believe that quality, sustainability, and proximity will continue to drive long-term value and investment performance for our family enterprise clients." said David Armitage, Director of Asset Management at Heartland. "We're excited how this acquisition aligns with our values-based investment objectives and are grateful as stewards to be able to provide such high-quality housing alternatives for the communities we serve."

About Laird Norton Properties 

Laird Norton Properties (LNP) is a Seattle-based real estate investment firm that owns and operates a national portfolio. LNP's 2019 merger with Heartland LLC, further established a unique, multi-faceted and fully integrated business and real estate enterprise providing flexible capital investment structures as well as a fully integrated real estate services platform with the expertise to complete even the most demanding transactions. LNP is a wholly owned subsidiary of the Laird Norton Company (LNC), a 160-year-old, seventh-generation family enterprise with significant investments in consumer and financial companies.

For more information visit www.lairdnortonproperties.com.

About Heartland LLC

Heartland LLC is a Seattle-based real estate advisory and investment firm with over 35 years of experience creating value for their clients. Heartland combines strategy development and analytical rigor with execution capabilities in real estate brokerage, asset management, capital markets, and development services to positively impact the communities, organizations, and families with whom we work. In 2019, Laird Norton Company purchased majority ownership in Heartland positioning both Heartland and Laird Norton Properties, LNC's real estate company, with a unique, multi-faceted and fully integrated business and real estate enterprise. 

For more information visit www.heartlandllc.com.

Contact:
Jennifer Polson
Laird Norton Properties
206.501.4506
Polson.j@lnproperties.com

SOURCE Laird Norton Company