The Argyle Apartment Homes in Federal Way, formerly the Woodside Apartments, just sold to San Diego-based Pathfinder Partners for $24,975,000. Pathfinder acquired the property from Irvine, Calif-based Trinity Property Consultants in a deal that closed May 17th.
The Argyle Apartment Homes, located at 2517 316th Lane, were built in 1983 and have 14 three-story buildings with 160 units. The complex offers covered parking, a fitness center, pool, playground, fireplaces and covered patios. Residents can choose between one and two-bedroom units.
In April, Pathfinders sold off a 64-unit building in Greenlake, with 59 residential units and five ground floor commercial units, for $12,681,576.26. The group originally purchased the four-story building in 2013. The building was supposed to be for-sale condominiums but the sales for the property were impacted by the Great Recession.
According to Pathfinder’s website, the group has seven properties in the Puget Sound region in Seattle, Federal Way, Tacoma, Kirkland and Redmond. The group already has two other apartments in Federal Way, Cedardale Apartments and Redono Terrace. The group is also in nine other states including Texas, Oregon, Oklahoma, Ohio, Nevada, Florida, Colorado, California and Arizona.
Trinity Property has 94 locations spanning across 16 states. In Washington, the group has twelve properties in Burien, Fife, Federal Way, Kent, SeaTac, Lakewood, and Everett.