HFF Arranges $20M Seattle Sale

PCCP and Westbridge Properties have sold the 1990-built Arterra Townhomes, an 81-unit community in Kent, Wash.

Arterra Townhomes

Arterra Townhomes

A joint venture between PCCP LLC and Westbridge Properties LLC has sold Arterra Townhomes, an 81-unit property. Meter Properties acquired the community located near Seattle free and clear of existing financing. HFF Director Christopher Ross and Managing Director Ira Virden brokered the sale.  

The 16 two-story buildings offer two- and three-bedroom units ranging in size from 985 to 1,564 square feet. Unit amenities include in-home washer and dryers, dishwashers and walk-in closets. The pet-friendly property features common area amenities such as:

  • fireplaces
  • clubhouse
  • business center
  • heated swimming pool
  • fitness center
  • spa
  • 66 parking spaces

Built in 1990, the community is located at 10031 SE 258th Place in Kent, Wash., offering convenient access to other communities such as Parkwood Apartments, Meridian Green Apartments, The Village at Lake Meridian Apartments and the Somerset Apartments. SeaTac Airport is 10 miles away.

“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 in a statement. “The large townhome-style units offer residents a unique floorplan that provides an affordable alternative to purchasing a single-family residence.”

Image courtesy of Yardi Matrix

If you’d like to be featured in Brokers’ Corner, send your deal to deals@cpe-mhn.com