Saddlebrook Apartments is located at 2100 South 260th St., justwest of Pacific Highway South, which parallels Interstate 5.Completed in 1997, the development consists of 22 three-storybuildings housing one-, two- and three-bedroom units averaging 850sf. Amenities nearby include Saltwater State Park and RedondoBeach, and the Des Moines Marina.Kenny Dudunakis of Hendricks &Partners brokered the transaction. Dudunakis tells GlobeSt.com theproperty was 95% occupied at time of sale, which was several daysago.

Simpson Housing is one of the largest privately-held,multifamily-focused property management and development. Thecompany and its subsidiaries own 100 apartment developmentsnationwide and still own eight in Washington State.

FSC Realty owns and operates apartments and shopping centers.Saddlebrook Apartments is the company's second Washington Stateacquisition this year. The company in January acquired PheasantRun, a 308-unit complex near Des Moines in Federal Way, WA. Alsothat month, it sold Glen Park Apartments in Federal Way toFairfield Residential.