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| Arterra Townhomes, Kent, WA (Photo by Red Studio Inc.) |
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| Ira Virden |
The HFF team marketed the
property exclusively on behalf of the seller, a joint venture between PCCP, LLC
and Westbridge Properties LLC. Meter
Properties purchased the asset free and clear of existing financing.
Arterra Townhomes features
spacious townhome-style units averaging 1,376 square feet with community
amenities, including a swimming pool, fitness center, playground, clubhouse and
business center.
The property is situated on nearly five acres
at 10031 SE 258th Place in the heart of one of Kent’s major retail corridors
placing it less than two miles from the Kent Station mixed-use development,
which features office space, a movie theater and numerous retail and
entertainment options.
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| Christopher Ross |
Additionally, Arterra Townhomes
offers nearby access to multiple forms of public transportation and major
roadways, including Interstate 5 and State Route 167, servicing the Puget Sound
area. The property is 97.53 percent
leased.
The HFF team representing
the seller included director Christopher
Ross and managing director Ira
Virden.
“With only a handful of
renovated units, Arterra offers a tremendous value-add opportunity in one of
the strongest submarkets in the region,” Ross said. “The large townhome-style units offer
residents a unique floorplan that provides an affordable alternative to
purchasing a single-family residence.”
For
more information on this press release, please contact:
Olivia Hennessey
Public Relations
Specialist
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 |
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