Essex affiliate grows in Pacific Northwest

Makes multifamily purchase

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Essex Property Trust announced that affiliate Essex Apartment Value Fund II has acquired Morning Run Apartments, a 222-unit community in Monroe, Wash. The value of the transaction was approximately $19.8 million. Morning Run Apartments was built in 1991, and consists of 20 two- and three-story buildings located on 11 acres. Palo Alto, Calif.-based Essex Property Trust Inc. is a fully integrated real estate investment trust. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....