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December 30, 2013

Suburban apartment sales surge

Journal Staff Reporter

Four large apartment complexes in Federal Way, Lakewood, Sammamish and Renton sold for a combined $182.96 million last week, property records show.

The biggest sale was in Federal Way, where an entity related to TruAmerica Multifamily, a partnership of real estate veteran Bob Hart and Guardian Insurance Co., bought the Arcadia Luxury Townhomes, a 309-unit complex at 1300 S.W. Campus Dr. for $53.02 million. The seller, Legacy Partners Residential, got $171,575 per unit.

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