This paper presents an investigation of the seismic behavior of walls composed of precast concrete panels attached together along vertical joints with ductile connectors and attached to the foundation along horizontal joints with unbonded posttensioning steel. The authors discuss a fiber-based analytical model used to obtain the lateral load behavior of walls under static or dynamic lateral loads. An analytical parameter study investigates the influence of design parameters on the lateral load behavior of a prototype wall under monotonic lateral loads. Results of the parameter study are used to verify the accuracy of closed-form expressions that predict the lateral load behavior of the walls. Recommendations are provided to help designers use a proposed seismic design approach for buildings with unbonded post-tensioned walls.