The Calida Group Pays $50M for Tacoma-Area Asset
PGIM Real Estate financed the acquisition with a $39.6 million loan.
A joint venture between SEB Inc. and Woodworth Capital has sold Bella on Canyon, a 140-unit gated community in Puyallup, Wash. The Calida Group paid $50.2 million for the Class A asset. PGIM Real Estate provided $39.6 million in acquisition financing, set to mature in 2025, according to public records. Kidder Mathews represented both parties.
Completed in 2012, Bella on Canyon encompasses 20 buildings with a mix of studio, one-, two- and three-bedroom floorplans ranging from 510 to 1,335 square feet, according to Yardi Matrix data. Common-area amenities include a fitness center, community patio, playground, swimming pool and spa.
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Located at 5402 141st St. E., the community is within 2 miles of various retail options, such as Walgreens, Safeway and Albertsons, and within 3 miles of South Community Park. Route 512 is some 2 miles north of the property, connecting it to Interstate 5 and Tacoma, Wash.
The Calida Group’s portfolio, encompassing more than 20,300 units across eight states, also includes the 152-unit Koz at the Dome and the 104-unit Koz at Market, two Tacoma communities. Last year, the firm added to its Washington footprint with the purchase of Autumn Grove, a 148-unit property in Vancouver.