One of Pierce County’s Largest Multifamily Properties Proves Attractive to Investors

Jones Lang LaSalle closes sale of Village at Seeley Lake in Lakewood, Washington

SEATTLE, Jan. 15, 2014 — Jones Lang LaSalle’s (JLL) Capital Markets experts today announced the firm has closed the sale of Village at Seeley Lake in the Tacoma submarket of Lakewood, WA.  Bridge Investment Group Partners purchased the 522-unit property.   

Managing Director David Young and Senior Vice Presidents Corey Marx and Seth Heikkila led the JLL team on the transaction. 

“As one of the largest multifamily properties in Pierce County, Village at Seeley Lake provided a compelling opportunity for investors eager to capitalize on Western Washington’s dramatically improving employment, as it continues to be one of the strongest regions in the country,” said Young.  “Bridge Investment Group Partners should be able to capitalize on this with cosmetic renovations to achieve maximum rent growth in the years ahead.”  

The Village at Seeley Lake is located at 5719 95th Street SW in Lakewood, with convenient access to I-5 and SR-512.  Built in three phases from 1989 through 1994, the property features one-, two- and three-bedroom apartments.  Amenities include a fitness center, heated indoor and outdoor swimming pools, a basketball and racquetball court and a playground.

Jones Lang LaSalle Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2012 alone, Jones Lang LaSalle Capital Markets completed $63 billion in investment sale and debt and equity transactions globally. The firm’s dealmakers completed $60 billion in global investment sales and buy-side transactions, equating to nearly $240 million of investment trades completed every working day around the globe. The firm’s Capital Markets team comprises more than 1,300 specialists, operating all over the globe.

For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management. For further information, visit www.jll.com.

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