DEAL OF THE DAY: Legacy Partners Acquires 309-Unit Community

By Anuradha Kher, Online News EditorFederal Way, Wash.–Legacy Partners recently acquired the 309-unit Campus Grove, a town home apartment community in Federal Way, Wash., from Campus Grove LLC. The company plans to invest $12 million for renovation of the property.Located at 1300 SW Campus Dr. in Federal Way’s West Campus area, Campus Grove features two-, and three-bedroom town home-style units ranging in size from 1,066 to 1,399 sq. ft. The town homes also have direct access to one- and two-car garages.The 24-acre community features amenities including a 4,500-sq.-ft. recreational facility, swimming pool, spa and showers, exercise room, sport court, meeting rooms and fireside lounge.“Campus Grove is at that point where it needs a fairly complete interior and exterior overhaul,” says Kerry Nicholson, senior managing director and partner of Legacy Partners Residential Inc.’s Pacific Northwest region. “We were attracted to the project because of its unique all-town home configuration, landscaping and exposure along Campus Drive.”The property is located near schools, employers, transportation modes and neighborhood centers, retail, dining and entertainment venues near the property.