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March 21, 2013

Columbia City site sold for $7.18M

SEATTLE — An entity related to Security Properties paid $7.18 million for 1.5 acres in Columbia City where it plans to develop a 193-unit apartment complex called The Angeline, which will also have a PCC market.

Security Properties bought the land from HAL Real Estate, which had previously planned to build the complex at 4801 Rainier Ave. S.

HAL has owned the land since 2007, when it bought the parcel from Susan Sandelman for $6.62 million.