HFF announces $18 million sale of Lakewood, WA, apartment community

The James Apartments, Lakewood, WA          Photo by Holland Photography                                                                                                  

Ira Virden

SEATTLE, WA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $18.05 million sale of The James, a 144-unit, garden-style apartment community in Lakewood, Washington.

The HFF team represented the seller, FPA Multifamily, LLC, and procured the buyer, Watt Companies.

The James is located at 4828 123^rd Street SW near several of Pierce County’s largest employment drivers, including the adjacent Joint Base Lewis-McChord (JBLM). 

 Additionally, the property provides immediate access to various Seattle MSA commuting options such as Interstate 5 and the Sound Transit Lakewood station. 

Christopher Ross

 The 14-building property consists of studio, one-, two- and three-bedroom units averaging 731 square feet.  Originally constructed in 1976,

 The James has recently undergone significant common area improvements, including siding replacement, the addition of balcony enclosures, updated landscaping, new signage, a resurfaced parking lot, clubhouse and fitness center remodel and renovations/upgrades to approximately 50 percent of the units.

The HFF investment advisory team representing the seller included senior managing director Ira Virden and director Christopher Ross.

CONTACTS:

IRA VIRDEN

WA Lic. #108308

HFF Senior Managing Director

(503) 224-0444

ivirden@hfflp.com

CHRISTOPHER ROSS

WA Lic. #105465

HFF Director

(206) 576-0031

cross@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500

ohennessey@hfflp.com

http://www.fpamf.com/.