Glenbrooke Apartments is a multifamily affordable housing community located in the highly dynamic market of the Seattle/Tacoma MSA. The 225-unit property is comprised of 12 garden-style residential buildings and 1 community building, including a leasing office and clubhouse, on 16 acres of land. The unit mix is comprised of one, two, and three-bedroom floor plans.
Glenbrooke Apartments residents will receive benefits from our acquisition including: improved security systems, updated garage units, and parking/asphalt upgrades. Each unit features a full kitchen and dishwasher, full-size washer and dryer hook-ups, ceiling fans, and a private balcony/patio. The property also offers 225 storage garages. Common area amenities include a heated swimming pool, fitness center, cedar sauna, clubhouse, full-size basketball court and community playground.
Just off of the property, residents have easy access to public transit. Also, South Hill Mall, encompassing 1.1 million square feet and anchored by Target, Macy’s, and JC Penny, is located less than a mile from the property. Numerous big box retailers surround Glenbrooke Apartments including Home Depot, Lowes, Walmart, Safeway, Best Buy and Office Depot. There are a variety of restaurants and independent shops in the immediate area as well.
Total development cost was approximately $21M. The acquisition of Glenbrooke was completed in October 2015.
General Project Information
- Project Name: Glenbrooke Apartments
- Address: 701 43rd SE, Puyallup, WA 98374
- Year Built: 1998
- Total Units: 225 (100% affordable units)
- Type: Acquisition
- Execution: Equity Investment with Loan Assumption
- Parking: 464 spaces