(To read more on the multifamily market, click here.)

SEATTLE-Pacifica Cos. has acquired another apartment propertyhere from Fairfield Residential with plans to convert it tocondominiums. Both companies are based in San Diego.

In the latest deal, Pacifica Hospitality Group Inc. paid $11.7million for the Lake Place Apartments located at 19800 PacificHighway South. The 153-unit property is the only apartment complexon Angle Lake near the Seattle-Tacoma International Airport. Thelow-rise, garden-style property was built in the late 1970s and isabout 95% leased.

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