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Security Properties Buys Newly Constructed WA Res Community from The Wolff Company

12/20/21

Security Properties purchased 207 East, a newly constructed, 288-unit apartment community in Edgewood, WA, from The Wolff Company. The price was not immediately given out.

Built in 2020, 207 East consists of one-, two- and three-bedroom units with an average size of 892 sf. The property has 14 buildings on 16 acres. Community amenities include a resort-style pool, spa and sundeck; multiple clubhouse lounges; a community kitchen with espresso bar; a 24-hour fitness center; a yoga studio; and co-working pods.

The property is located at 207 Meridian Ave E in Pierce County. It is within walking distance of Surprise Lake Square retail center and a short drive from the employment hubs in Tacoma, Seattle, Bellevue, Kent Valley, and Joint Base Lewis–McChord.

Jon Hallgrimson, Eli Hanacek, Mark Washington and Kyle Yamamoto with CBRE Pacific Northwest Multifamily group in Seattle represented The Wolff Company in the transaction.

“207 East represents best-in-class suburban new construction with spacious units and top-of-market amenities. Edgewood has historically low multifamily vacancy and very few new apartment projects in the construction pipeline, which will help sustain long-term demand for 207 East,” said Hanacek.




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