REBusinessOnline

New Standard Equities Buys The Venue Apartments in Renton for $41.5M

RENTON, WASH. — New Standard Equities has purchased The Venue, a 284-unit apartment complex in Renton, for $41.5 million. The community is located at 4455 N.E. 12th St.

The Venue will undergo a $2.8 million repositioning that will include improvements to its fitness center and additional carports on the low-density site.

This is the third Pacific Northwest acquisition for New Standard since August 2015. The seller was Fowler Property Acquisitions. Regis Metro Associates provided equity, while Freddie Mac provided the financing.

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