Puyallup apartment complex bought for $43.7 million
A California real estate developer bought a Puyallup apartment complex for $43.7 million earlier this month, according to Pierce County records.
MIG Real Estate paid about $281,935 per unit to Greystar for Bradley Park Apartments on Seventh Street SE and 23rd Avenue SE.
Bradley Park Apartments, built in 2000, includes 26 buildings, a pool and a 24-hour fitness center, Pierce County records show. The apartment complex’s assessed valued is $37.3 million.
Greystar purchased the property in 2016 for $31 million.
The 155 units consist of one, two and three bedroom apartments near Bradley Lake Park and Wildwood Park. MIG Real Estate owns property across the country and state, including two Renton apartment complexes.
Developers have named Puyallup and the surrounding area as the “second-fastest growth of any submarket in the Puget Sound region.”
This story was originally published December 31, 2019 at 5:30 AM.
