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June 13, 2018

125 Fife units sell for $18M

Seattle Daily Journal of Commerce

FIFE, Pierce County - The Astoria Apartments, at 5700 23rd St. E. in Fife, have sold for $18 million, according to Pierce County records.

The seller was FPA5 Emerald Park LLC, an entity of Fowler Properties which acquired the property in 2016 for $11.1 million.

The buyer was Pathfinder Fife Holdings LLC, an entity of San Diego-based Pathfinder Partners.

Kidder Mathews' Giovanni Napoli and Philip Assouad brokered the deal, which was worth about $144,000 per unit. KM also provided transaction details.

Developed in 1978 on almost 5.9 acres, the Astoria has 125 units in a dozen two-story buildings. The complex is just south of Interstate 5, at Exit 137.

Pathfinder recently acquired the 160-unit Argyle Apartments in Federal Way for $25 million.

For the full story, go to Seattle Daily Journal of Commerce.

©Copyright 2018 Seattle Daily Journal of Commerce

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