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Real Estate

Lynn Porter
Real Estate Editor
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November 30, 2006

Real Estate Buzz: Pacific Property is on a roll here

Real Estate Editor

Palo Alto, Calif.-based Pacific Property Co. has bought upwards of $175 million in apartments — nearly 1,300 units — in the Puget Sound region since it entered the market in force in 2005 after a short stint here in 2000.

The privately owned multifamily investment firm this month also sold its first complex here, the 98-unit Riverstone (formerly Aspenwood) at 14200 S.E. Sixth St. in Bellevue for $13.7 million to local investor Robert Hardy who intends to convert it to condos, according to Acquisition Manager Jesse Mack. The sale was brokered by Kenny Dudunakis of Hendricks & Partners.


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