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San Diego Investor Picks Up Puget Sound Multifamily for $90M
San Diego-based S. Lew & Associates, Inc. led a group of investors in the purchase of the 401-unit Avery at the Reserve apartment community in Federal Way from another San Diego company, The ConAm Group, for $90 million. The community is located at 125 SW Campus Dr., near Interstate 5 at the midpoint of the Seattle-Tacoma-Bellevue MSA.
The 39.15-acre community is situated in a lush forest-like setting and features one, two and three-bedroom apartments, as well as extensive amenities that include two indoor pools, indoor spa, outdoor pool, clubhouse, fitness center and yoga studio, children’s playground, dog run and business center.
The deal was brokered by JLL’s David Young, Corey Max and Chris Ross.
The asset will be rebranded as Encore Apartment Homes. It strengthens the company’s Pacific Northwest presence, and represents its fifth multifamily apartment community acquisition in the region, boosting its total units there to more than 1,200.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


