Seattle-based GT Capital and The Benaroya Company, investing in the future of downtown Seattle

BISWIRE/Oct. 5, 2026 — GT Capital, in partnership with The Benaroya Company, has acquired 901 Fifth Avenue, a Class A downtown Seattle office tower, expanding GT Capital’s investment in the city’s central business district.                        

The acquisition follows GT Capital’s successful repositioning of Seattle’s historic Smith Tower. Since acquiring Smith Tower approximately two years ago, GT Capital has increased office occupancy from roughly 30% to more than 80%, reinforcing the firm’s conviction that well-located, high-quality downtown office buildings can perform with active, local ownership.

“We continue to believe in downtown Seattle and think this is one of the most compelling times in decades to invest in high-quality real estate here,” said Chris Langer, Founding Principal of GT Capital. “We are very hands-on owners. We want our tenants to know who their landlord is, know how to reach us, and know that the people making decisions about their building are here in Seattle…not sitting in an institutional office in New York. That local, responsive approach has been a big part of our success at Smith Tower, and it is exactly how we intend to operate 901 Fifth.”

The Benaroya Company joins GT Capital as an investment partner in the acquisition. Led by longtime Seattle investor and developer Larry Benaroya, the company has been synonymous with award-winning real estate and deeply rooted in the Puget Sound community for more than 70 years.

 “Seattle has always played an important role in our family history and our business, and we continue to believe strongly in its future,” said Larry Benaroya. “We’re excited about our latest investment in downtown Seattle. We embrace the work elected officials are doing to continue to make downtown Seattle safe and welcoming for the people who live, work and visit here, while also creating an environment where businesses feel welcome to invest, grow and create jobs. A thriving downtown depends on both.”

901 Fifth is located in the heart of Seattle’s central business district and serves as the U.S. headquarters of PitchBook, a Seattle-founded financial data and software company now owned by Morningstar. PitchBook’s continued presence downtown reflects the role Seattle continues to play as a home for companies that are founded locally, grow globally and remain connected to the city.

GT Capital and The Benaroya Company intend to take a long-term ownership approach to 901 Fifth, with an emphasis on leasing, providing our tenants an exceptional experience and significant strategic reinvestment in the property.

The acquisition comes at a time when downtown Seattle office values have reset significantly from pre-pandemic levels, creating opportunities for local ownership groups with the capital and operating experience to invest through the cycle.

GT Capital believes that local, well-capitalized, responsive ownership is especially important in today’s office market, as tenants place greater emphasis on building quality, service, amenities and the everyday experience of their employees.

About GT Capital

GT Capital is a privately held real estate investment and development firm focused on acquiring, developing and repositioning commercial and multifamily properties throughout the Puget Sound region. Since its founding, GT Capital has acquired or developed approximately 3 million square feet of commercial real estate and more than 1,400 multifamily units.

Website: www.gtcptl.com

About The Benaroya Company

The Benaroya Company is a privately held real estate investment and development company with a long history and dedication to the economic vibrancy of the Pacific Northwest.  Founded in 1956, the company has acquired and developed millions of square feet of office, industrial, retail and other commercial properties through the region.   

Website: www.Benaroya.com