SEATTLE, WA – September 6, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $18.05 million sale of The James, a 144-unit, garden-style apartment community in Lakewood, Washington.

The HFF team represented the seller, FPA Multifamily, LLC, and procured the buyer, Watt Companies.

The James is located at 4828 123rd Street SW near several of Pierce County’s largest employment drivers, including the adjacent Joint Base Lewis-McChord (JBLM).  Additionally, the property provides immediate access to various Seattle MSA commuting options such as Interstate 5 and the Sound Transit Lakewood station.  The 14-building property consists of studio, one-, two- and three-bedroom units averaging 731 square feet.  Originally constructed in 1976, The James has recently undergone significant common area improvements, including siding replacement, the addition of balcony enclosures, updated landscaping, new signage, a resurfaced parking lot, clubhouse and fitness center remodel and renovations/upgrades to approximately 50 percent of the units.

The HFF investment advisory team representing the seller included senior managing director Ira Virden and director Christopher Ross.