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September 12, 2018

55 Tukwila units sell for $9M

TUKWILA — The Terra Tukwila Apartments, at 6206 S. 153rd St., have sold for just over $9 million, according to King County records.

The seller was P&B Construction Co. LLP, associated with the Ketcham family, which had owned the property for decades.

The buyer was PUR San Juan LLC, which is associated with Pacific Urban Residential of Palo Alto, California.

The sale was arranged by Sidney Warsinske, Ryan Dinius, Giovanni Napoli and Philip Assouad of Kidder Mathews. The transaction was worth about $166,772 per unit.

Developed from 1966 to 1980 on almost 3.3 acres, the Terra has nine low-rise buildings, one of them an old house, with 55 units and surface parking. The complex is north of the Westfield Southcenter Mall.

Pacific Urban has about 100 multifamily properties on the West Coast. Last year it bought the 357-unit Wasatch Hills apartments in Renton for $67 million.

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