A Puyallup-area apartment complex has just changed hands in one of the priciest real estate deals in Pierce County this year.
CBRE, a commercial real estate company, announced this week that the Alderra Apartment Homes at 13507 99th Ave. E. were sold for $56.45 million.
The seller was a company connected to Auctus Capital Partners from Colorado, and the buyer is linked to Abacus Capital Group from New York, according to state corporate filings.
Pierce County records show the property last sold in 2016 for $35.3 million, making this a significant increase in value.
Abacus Capital’s expanding apartment portfolio
Abacus already owns seven apartment communities north of Tacoma, including locations in Kent, Seattle, Renton, Bellevue, and Everett, according to its online portfolio.
The Alderra community has 200 units spread across multiple buildings. Built in the early 2000s, it features one- and two-bedroom apartments and townhomes.
Residents enjoy a clubhouse, fitness center, pool, spa, and playground, and it’s only about a five-minute drive from South Hill Mall.
CBRE agents Eli Hanacek, Mark Washington, Kyle Yamamoto, and Natalie Kasper represented the seller.
“Alderra’s location near major aerospace, manufacturing, logistics, and military employers, along with the strong demand in the area, makes it a great investment for stability and growth,” said Hanacek, vice chairman and managing director at CBRE.
For comparison, the highest-priced commercial deal in Pierce County this year so far was in July, when the Lodge at Madrona in South Tacoma sold for nearly $84 million.
That property has 465 units spread across 24 buildings and sits near The Home Depot on Center Street.
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The writer is a real estate journalist specializing in all types of New York City properties, including luxury residences, commercial spaces, and homes.
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