Essex Property Trust acquired Fairwood Pond Apartments, a 194-unit apartment community located in Renton, Wash.
The value of the transaction was approximately $21.1 million.
Fairwood Pond Apartments, developed in 1997, offers five floor plans that range in size from 754 square feet for a one-bedroom, one-bath unit, up to 1,212 square feet for a three-bedroom, two-bath unit. Each apartment home has a fireplace, built-in washers and dryers.
The community offers a variety of common-area amenities, which also include garage and covered carport parking. A wildlife reserve is a nearby attraction.
Palo Alto, Calif.-based Essex Property Trust Inc. is a fully integrated real estate investment trust that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast communities.
What’s your opinion? Send your Letter to the Editor to firstname.lastname@example.org.