Virtú Investments Acquires Collins on Pine in Seattle, WA
Posted
August 11, 2026
Virtú Investments is pleased to announce the acquisition of Collins on Pine, a 76-unit apartment community with ground-floor retail located in Seattle's Capitol Hill neighborhood. Built in 2013, the property was acquired off market, with over 96 percent resident occupancy at closing and fully leased ground-floor retail.
Collins on Pine is exactly the kind of asset we can add unique value in. With our team's in-house operational expertise and the renovations we're planning, we can create a true sense of place and community for residents.
Transit-Connected Urban Location
Collins on Pine has a Walk Score of 99 and sits a half-mile from the Capitol Hill light rail station, where daily transit boardings run 25 percent above 2019 levels, putting much of Seattle's employment base within a 30-minute commute. The property is located on the eastern end of the Pike/Pine corridor, a district of independent boutiques, vintage stores, cafés, and nightlife venues. The corridor drew more than 8.3 million local visits in 2025, up 11 percent year over year.
Supply-Constrained Submarket
New apartment deliveries in the submarket are projected at 0.5 to 0.9 percent of existing stock annually through 2028, down from a 7 percent peak in 2024 and below the submarket's 25-year average of 3.2 percent. Capitol Hill lease trade-outs are outpacing the broader Seattle market and trending up year over year.
Stabilized Income at Acquisition
Occupancy stood above 96 percent at closing. Ground-floor retail is 100 percent leased to three neighborhood operators with tenures of 12 years or more, in a retail submarket with vacancy near just 4 percent.
Full Value-Add Program
Interiors across all 76 units remain in original condition, with unit and amenity space renovations planned. The property and its renovation program will be managed by North Coast, Virtú's in-house operations team.
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About Virtú Investments
Founded in 1997, Virtú Investments is a multifamily investment manager with nearly three decades of cycle-tested outperformance, uniting deep domain expertise, full-scope execution, and a team-first approach to creating long-term value for its LPs.