X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FIFE, WA-A 177-acre chunk of Fife is being sold for $17 million to a developer planning a 864-unit residential community.

Publicly traded Heartland Partners LP has agreed to sell the property in phases to Crab Apple Beach LLC. George Heidgerken, Crab Apple’s managing member, says his company will buy the property for the first development phase from Heartland and obtain an option to purchase the remaining property in phases over the next three years.

Jacobson, President and CEO of Heartland, says the closing for the first phase, in the amount of $5,600,000, is expected prior to year-end 2001. The Fife City Council passed the Preliminary Plat for the project at a meeting on September 25.

More detail on Crab Apple Beach and its operations was not immediately available Monday afternoon. Heartland Partners is a Chicago-based real estate partnership with properties in 14 states, primarily in the upper Midwest and northern United States.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.