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LYNWOOD, WA-A joint venture of Grosvenor Americas and Mosaic Homes of Seattle has acquired the 164-unit Woodcreek Apartments in this Seattle in an acquisition that reflects Grosvenor’s strategy in the Puget Sound market. The acquisition “meets our strategic objective of building a portfolio of value-add rental properties in the Puget Sound region,” said James Delmotte, SVP of Investments for Grosvenor Americas. Terms of the deal were undisclosed, but sources say the new owners paid $21 million for the apartment complex, which they bought from Palo Alto, CA-based Pacific Property Co.

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