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American Campus buys Seattle property from AvalonBay

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American Campus buys Seattle property from AvalonBay

American Campus Communities Inc. bought the AVA University District apartment property in Seattle from AvalonBay Communities Inc. for $112.1 million, the Puget Sound Business Journal reported, citing a King County deed.

Citing American Campus' website, the report said the asset is the company's only property in Seattle and has been renamed Twelve at U District.

The sale of the 283-unit property at 4535 12th Ave. NE is the second largest so far in 2017 in King County after Kennedy-Wilson Inc. and a partner's $141 million deal for a 282-unit apartment community in February, the report noted.