TACOMA, WASH. – Kennedy Wilson has acquired the 280-unit Bella Sonoma apartment complex in the Tacoma suburb of Fife for $46.7 million. The luxury residential community is located at 2301 62nd Ave E.
Bella Sonoma was built in two phases in 2004 and 2006. About 35 percent of the community’s units are townhomes with attached garages.
The community is situated near the Port of Tacoma and a Sound Transit stop which, connects to Seattle and Tacoma.
Kennedy Wilson has purchased 2,185 units in the Pacific Northwest this year alone, bringing its Pacific Northwest multifamily portfolio to a total of 5,216 units. It owns a total of 20,719 multifamily units worldwide.
The firm invested $11.1 million of equity into the acquisition. It also secured $37.3 million of new debt through Fannie Mae. That 10-year loan features a fixed interest rate of 3.59 percent and five years interest-only.
The seller was not named.