By Jack Stubbs
Kirkland, WA-based Weidner Apartment Homes, an owner of multifamily properties nationwide that also operates extensively throughout the Pacific Northwest, recently sold one of its Puget Sound region assets.
On August 27th, the Bayview Apartments in Federal Way sold for $15.6 million, or about $187,951 per unit, King County records show, with Weidner Apartment Homes selling the property to Bayview Associates LLC, an entity based in Redwood City, CA.
Located at 30911 First Ave. S., the Bayview Apartments ontains 83 units across three stories, according to the property listing on apartments.com. Bayview Apartments offers a mix of studio, one- and two-bedroom units that range from 400 to 860 square feet Some of the property amenities available to residents include walk-in closets, fireplaces and large private balconies.
Bayview Apartments is approximately one mile west of downtown Federal Way and eight miles southwest of Kent, also sitting proximate to access to State Route 509.
Founded in 1977, Weidner Apartment Homes’ Puget Sound region portfolio includes properties in Lynnwood, Seattle, Kirkland, Renton, Shoreline, Tukwilla and Mountlake Terrace, among other locations throughout King, Pierce and Snohomish Counties. Some of Weidner Apartment Homes’ other Federal Way properties include The Ridge and Shores located at 31912 3rd Lane SW; Soundview, located at 28425 18th Ave. South; and Island Park, located at 23529 60th Ave. South.
In mid-August 2019, the company sold the 81-Unit Majestic Bay Townhomes in Des Moines
to New Standard Equities for $18 million, or about $222,222 per unit.
According to The Registry’s reporting, Weidner Apartment Homes’ last purchased in the Puget Sound region occurred in October 2017, when the company acquired the 313-unit Tower12 Apartments in downtown Seattle for $225.25 million, or nearly $719,648 per unit. At the time of the acquisition, the company’s capture of Tower12 was its largest-to-date in its home market.
