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Originally published June 29, 2011 at 11:35 AM | Page modified June 29, 2011 at 12:54 PM

Federal Way apartment complex fetches big bucks

A 339-unit Federal Way apartment complex has been sold to a real-estate investment partnership associated with Swiss bank UBS.

By Seattle Times business staff

quotes That's over $153,000 per unit. Not a very smart buy Read more

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A 339-unit Federal Way apartment complex has been sold to a real-estate investment partnership associated with Swiss bank UBS.

The buyer paid $52 million this week for the 27-building Lodge at Peasley Canyon development, built in 2003.

It was the third King County apartment complex to sell this year for more than $50 million.

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