Seattle-based GT Capital and Freestone Capital Management Expands Seattle Portfolio with Acquisition of Lock Vista Apartments

SEATTLE, Nov. 25, 2025 /PRNewswire/ -- GT Capital and Freestone Capital Management today announced the acquisition of Lock Vista Apartments, a 192-unit multifamily community located in Seattle's historic Ballard neighborhood.

Lock Vista marks the firms' second acquisition together, following their 2024 purchase of the iconic Smith Tower and Butler Garage in downtown Seattle. Both firms bring extensive experience investing across commercial and residential real estate in the Pacific Northwest and beyond.

"We're thrilled to continue our partnership with GT Capital with Lock Vista. Lock Vista is a rare combination of character and location," said Jason Mann, Partner at Freestone. "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."

Originally built in 1949, Lock Vista is located just four blocks from downtown Ballard and steps from the Burke-Gilman Trail, providing exceptional walkability and convenient transit access to South Lake Union, Downtown Seattle, and the University of Washington. The surrounding area continues to benefit from strong job and population growth, driven by Seattle's expanding technology, healthcare, and life sciences sectors.

The community features a classic brick façade, open courtyards, and views of Puget Sound and the Olympic Mountains, contributing to its enduring appeal and high resident retention. Between 2018 and 2021, the property underwent a comprehensive $13 million renovation, including modernized kitchens and baths, full electrical and plumbing upgrades, and enhanced resident amenities such as a fitness center, pool, bike room, and clubhouse.

Freestone and GT plan to continue operating Lock Vista as a well-managed apartment community while pursuing opportunities to enhance operational efficiency and environmental performance.

"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," said Charlie Bauman, Partner at GT Capital.

About GT Capital

Founded in 2010, GT Capital is a real estate holding company specializing in the acquisition, development, and operation of commercial and residential properties across the Pacific Northwest.

The GT team has more than 100 years of combined experience, bridging three development cycles. Since inception, GT has successfully acquired or developed approximately 3 million SF of commercial properties and over 1,400 residential units.

Extensive local market experience, deep-rooted industry relationships, and comprehensive and complementary skill sets allow GT to execute across various asset types, taking advantage of wherever opportunities may arise in the market at any given point in time. GT's long track record and highly diversified portfolio are evidence of the team's ability to successfully target, acquire, and operate at a high level, irrespective of asset type. www.gtcptl.com

About Freestone Capital Management
Founded in 1999, Freestone Capital Management is a Seattle-based wealth management and investment advisory firm with offices across the West Coast. Freestone serves high-net-worth individuals, families, and institutions, offering customized portfolios and alternative investment strategies designed to preserve and grow capital responsibly.

For more about Freestone's real estate, see https://www.freestonecapital.com/freestone-real-estate/

SOURCE Freestone Capital Management