Alderra Apartment Homes, a 200-unit garden-style multifamily community in Puyallup, Washington, sold for $56.45 million ($282k/unit). The property was sold by Auctus Capital Partners.
Located at 13507 99th Avenue E in Puyallup, Alderra Apartment Homes was built in 2003 with one- and two-bedroom floorplans as well as townhomes. Amenities include a clubhouse, fitness center, pool, year-round spa and playground.
Alderra Apartment Homes is a five-minute drive from the recently renovated South Hill Mall, and a 12-minute drive from Costco, Walmart and Winco. Its close proximity to major highways makes it easy to access job centers in Tacoma, Pierce County and Joint Base Lewis McChord.
CBRE’s Eli Hanacek, Mark Washington, Kyle Yamamoto and Natalie Kasper represented the seller in the deal.
“Alderra Apartment Homes offers compelling value-add upside, driven by its prime location near Puyallup’s vibrant lifestyle amenities and top-tier employment centers. Its proximity to major aerospace, manufacturing, logistics and military employers, combined with the area’s strong demand fundamentals, makes it an ideal investment for those seeking both stability and growth potential,” said Hanacek.
AUCTUS was founded in 2001 and is today the leading investment company for European SMEs. Through our buy-and-build strategies, we have created more market leaders than any other fund in Europe. As part of succession solutions, buy-and-build strategies and group spin-offs, we acquire majority stakes in medium-sized companies and/or provide equity for growth and acquisitions.
