Prime Residential Acquires 111-Unit Trellis Apartments In Federal Way For $32.4M

The Trellis apartments, located at 2120 Southwest 352nd Street in Federal Way, Washington, have been sold for a price of $32.4 million. The multifamily property consists of 111 units, with a price per unit of $291,892. The total square footage of the property is 113,000, resulting in a price per square foot of $287.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $32,400,000
• Units: 111
• Price Per Unit: $291,892
• Square Footage: 113,000
• Price Per Square Foot: $287
• Address: 2120 Southwest 352nd Street, Federal Way, WA

Prime Residential, a San Francisco-based company, has expanded its presence in the Puget Sound multifamily market with the acquisition of the Trellis apartments. The deal was facilitated by the brokers Giovanni Napoli, Nicholas Ruggiero, and Philip Assouad from Institutional Property Advisors.