Virtú Investments acquires 76-unit Collins on Pine in Seattle

Virtú Investments has bought Collins on Pine, a 76-unit apartment community with ground-floor retail in Seattle’s Capitol Hill neighborhood. The off-market deal adds a stabilized, transit-rich asset with room for renovations in a supply-constrained submarket.

Why it matters: - Collins on Pine gives Virtú Investments a well-located multifamily asset in one of Seattle’s most walkable and transit-connected neighborhoods. - The property’s high occupancy and fully leased retail provide immediate income, while planned renovations create a value-add path. - The deal lands in a submarket where new apartment supply is expected to stay limited through 2028.

What happened: - Virtú Investments acquired Collins on Pine, a 76-unit apartment community with ground-floor retail in Seattle’s Capitol Hill neighborhood. - The acquisition was completed off-market. - The property was built in 2013. - Occupancy was above 96% at closing. - Ground-floor retail was fully leased at closing.

The details: - Collins on Pine sits at the eastern end of the Pike/Pine corridor. - The property has a Walk Score of 99. - The site is about a half-mile from the Capitol Hill light-rail station. - Daily transit boardings at the station run 25% above 2019 levels. - Much of Seattle’s employment base is within a 30-minute commute from the property. - The Pike/Pine corridor drew more than 8.3 million local visits in 2025, up 11% year over year. - New apartment deliveries in the submarket are projected at 0.5% to 0.9% of existing stock annually through 2028. - That projected supply is down from a 7% peak in 2024 and below the submarket’s 25-year average of 3.2%. - Capitol Hill lease trade-outs are outpacing the broader Seattle market and are trending up year over year. - The retail component is leased to three neighborhood operators. - Those retail tenants have been in place for 12 years or more. - Retail vacancy in the submarket is near 4%. - Interiors across all 76 units remain in original condition. - Virtú plans unit and amenity renovations. - North Coast, Virtú’s in-house operations team, will manage the property and renovation program.

Between the lines: - Virtú is buying into a stabilized asset with embedded upside rather than taking on lease-up risk. - Limited new supply and strong transit access could support rent growth and occupancy if Seattle demand holds. - The mixed-use setting also adds resilience by pairing apartments with established neighborhood retail.

What’s next: - Virtú will move ahead with renovations to the apartments and amenity spaces. - North Coast will oversee operations and the value-add program. - The company is positioning the asset for longer-term value creation as Capitol Hill supply stays constrained.

The bottom line: - Virtú bought a high-occupancy Seattle asset with transit access, leased retail and room to improve interiors.