LAKEWOOD, WA-Jones Lang LaSalle's Capital Markets has closed the sale of Village at Seeley Lake in the Tacoma submarket of Lakewood. Bridge Investment Group Partners, Salt Lake City, UT, purchased the 522-unit property.
Managing director David Young and senior vice presidents Corey Marx and Seth Heikkila led the JLL team on the transaction.
“As one of the largest multifamily properties in Pierce County, Village at Seeley Lake provided a compelling opportunity for investors eager to capitalize on Western Washington's dramatically improving employment, as it continues to be one of the strongest regions in the country,” said Young. “Bridge Investment Group Partners should be able to capitalize on this with cosmetic renovations to achieve maximum rent growth in the years ahead.”
The Village at Seeley Lake is located at 5719 95th Street SW in Lakewood, with convenient access to I-5 and SR-512. Built in three phases from 1989 through 1994, the property features one-, two- and three-bedroom apartments. Amenities include a fitness center, heated indoor and outdoor swimming pools, a basketball and racquetball court and a playground.
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