Bridge Investment Group Acquires Multifamily Asset From Weidner Apartment Homes For $77.8M In Federal Way
31912 3rd Lane Southwest
$77,800,000
Units
335
Asset Type
MultiFamily
Closing
Feb 26, 2026
AI
The property asset involved in this transaction is a multifamily unit located at 31912 3rd Lane Southwest, Federal Way, WA. Bridge Investment Group purchased the asset for a total of $77,800,000. The multifamily property comprises 335 units, with a price per unit calculated at $232,239.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $77,800,000
- Buyer: Bridge Investment Group
- Seller: Weidner Apartment Homes
- Broker: Institutional Property Advisors
- Lender: Berkadia
- Units: 335
- Price Per Unit: $232,239
This transaction highlights the involvement of key players in the multifamily sector. Bridge Investment Group, serving as the buyer, confirms its investment strategy in the Seattle-area market. Institutional Property Advisors acted as the broker representing the transaction, facilitating the deal between the buyer and seller, Weidner Apartment Homes.
Players
Federal Way MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93