PUYALLUP, WASH. — Equus Capital Partners has acquired Sierra Sun Apartments, a 150-unit property in the Seattle suburb of Puyallup.
Built in 2006, Sierra Sun comprises 20 apartment buildings and an 8,500 square-foot clubhouse and amenity center. The community offers one-, two- and three-bedroom townhome-style units. Each unit includes an attached two car garage.
Equus will conduct $2 million in renovations to the asset, including interior and exterior updates, as well as enhancements to the clubhouse and amenity center. Madison Apartment Group, a subsidiary of Equus, will oversee the upgrades in addition to managing the community.
The investment is being made on behalf of a programmatic joint venture between an affiliate of Equus and a public pension plan that is based in the U.S.