Home Industry News Evergreen Vale Apartment Community in Federal Way Sells for $20.25MM

Evergreen Vale Apartment Community in Federal Way Sells for $20.25MM

August 3rd, 2017, Seattle, WA – Colliers’ Seattle Multifamily Team of Dylan Simon and Jerrid Anderson brokered the purchase of Evergreen Vale, a 132-unit property in Federal Way, for $20.25 million on behalf of FPA Multifamily LLC.

Built in 1988, Evergreen Vale rests on nearly 20 acres of gorgeous wooded land. With untouched interiors and ample parking, this garden court property is the ideal value-add investment in the Seattle/Puget Sound region.

Evergreen Vale’s manicured grounds, large acreage, and spacious units provide a perfect canvas for modernization and updates of unit interiors. Proximity to I-5 and Federal Way Crossings Mall provide residents easy commutes and access to plenty of lifestyle amenities. Evergreen Vale offers a terrific combination of a timeless asset and opportunity for updates to the physical plant.

Dylan Simon, Senior Vice President, and Jerrid Anderson, Senior Associate, of Colliers International’s Seattle office represented the buyer, FPA Multifamily LLC, in the purchase of Evergreen Vale from a local owner.

About FPA Multifamily LLC
FPA Multifamily is an investment organization that specializes in property acquisitions and finance, investor relations, asset management, property management, development and construction, and more. With more than three decades of experience, FPA operates a portfolio of approximately 25,000 apartment units in 25 cities.

About Colliers International
Colliers International (NASDAQ: CIGI; TSX: CIG) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide.

Colliers’ Seattle Multifamily Team is based in downtown Seattle and is comprised of seven highly qualified real estate professionals specializing in assisting apartment investors and developers in the Seattle and Puget Sound region. The Team focuses on representing buyers and sellers of apartment buildings and development sites from 5 units to 500 units.