2/19/2008

Suburban Seattle apartments bring $13.45M

by Eric Ramsden

Silver Shadow Apartments

Mr. Claeys

Liquid Capital, a privately held owner and operator of apartments on the west coast, has purchased the Silver Shadow Apartments in the Seattle suburb of Federal Way, Wash., for $13.45 million from an overseas partnership.

Jim Claeys in the Seattle office of Apartment Realty Advisors represented the buyer in the deal.

Built in 1989, the Silver Shadow complex contains 132 units and is located at 27606 Pacific Highway South in Federal Way, a town situated 25 miles south of Seattle. The property is comprised of 11 two and three-story buildings containing 44 one-bedroom, 72 two-bedroom and 16 three-bedroom apartments.

The Pheasant Run Apartments, a 308-unit complex also in Federal Way, recently sold for $30.4 million to San Diego-based Pacifica Companies.

Claeys is a VP with ARA's Seattle office and is responsible for business development and transaction management in Washington, Oregon and Idaho. He has closed more than 300 apartment transactions in his 19 years as a real estate broker.

Address: 27606 Pacific Highway South, Federal Way, Wash.

Size: 132 units/115,416 square feet

Built: 1989

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Filed Under: Multi-Family

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