Pacific Urban Investors Acquires Bellevue Multifamily Property for $68.5M
California-based Pacific Urban Investors has completed the acquisition of Edgewood Park, a garden-style apartment community located in Bellevue, Washington, for $68.5 million.
The seller, Acacia Capital Corp., which is based in San Mateo, California, sold the 195-unit property situated at 1501 145th Place SE. The complex consists of 22 two-story buildings sprawled across approximately nine acres.
Edgewood Park offers a variety of residential options, including studio, one-bedroom, two-bedroom, and townhome-style apartments. Amenities at the property include a fitness center, a clubhouse, two swimming pools, and a community vegetable garden.
Pacific Urban Investors is known for its nationwide multifamily investment and operations footprint. The company currently manages a portfolio of more than 23,000 apartment homes across 15 states and 20 major markets.
This strategic acquisition reinforces Pacific Urban Investors’ continued focus on expanding its presence in high-demand urban and suburban markets across the United States.
