Altitude 104, a 230-unit apartment complex at 2201 104th St. S., sold at the end of January for $40.75 million, Pierce County records show.
The seller was an LLC affiliated with Seattle-based Goodman Real Estate, who acquired the site in March 2015 for $18.5 million, county records show. The buyer was two LLCs that appear to be affiliated with Oro Capital Advisors of Nevada, according to corporate filings with the Secretary of State. Berkadia Seattle announced the sale this week, with the transaction led by senior director Brandon Lawler, who represented the seller. The apartment site, which dates to 1989, spans more than 12 acres near Joint Base Lewis-McChord and consists of multiple buildings offering units from one to three bedrooms. Berkadia, in its release, noted, “The new buyer now has the opportunity to upgrade the community and achieve increased rent premiums while utilizing the very attractive agency loan that was in-place.”