New Standard Equities Acquires 276-Unit Apartment Community in Port Orchard, WA for $38.15 Million
February 23, 2017 | MultifamlyBiz
PORT ORCHARD, WA – A newly formed joint venture of New Standard Equities (NSE) and an affiliate of Brixton Capital has acquired Arbor Terrace, a 276-unit multifamily community in Port Orchard, WA, from Sea 1800 Sydney Avenue, LP in a transaction valued at $38.15 million.
Arbor Terrace is the second acquisition in the immediate area in less than two months and third in Kitsap County in the past year for NSE, a Los Angeles, CA-based real estate investment and management company, noted CEO and founder Edward Ring.
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