November 30, 2016
A three-year hold on the Class B Arcadia Townhomes, Phase I ended with its sale to a Florida Tenants-in-Common for $68 million. The TIC, consisting of PRCP-Arcadia LLC, Belmont Navy Investments LLC KOD-PR LLC and George Boston LLC, bought the 26-year-old property at 1300 S.W. Campus Dr. in Federal Way, WA from Campus Drive Fee Owner LLC of Los Angeles, headed by Robert E. Hart. Hart is founder, CEO and president of TruAmerica Multifamily.
Hart’s entity acquired the townhomes in late 2013 for $53 million. The complex offers two and three-bedroom townhomes with amenities including wood-burning fireplaces, skylights in the master bedrooms, patios or decks and garages. Community amenities include a clubhouse and a private gym with free weights and training equipment.
For comments, questions or concerns, please contact Amy Sorter