Walnut Creek, CA (December 21, 2020) – PTLA completed the acquisition of Westernaire Apartments, a 29-unit apartment complex in Ellensburg, Washington this week. Despite the challenges of finding and buying properties in the current market, the team successfully secured the property via a 1031 exchange for their clients.
Located less than one minute from Central Washington University’s campus, the property is one of the best located in the area. Westernaire is adjacent to the over 600 units already either owned or managed by PTLA, and the property will be managed by their experienced Ellensburg team.
The acquisition is a testament to the company’s confidence in the Ellensburg market and PTLA’s operations teams. “We’re grateful for the trust of our partners and clients that allowed us to close on this property, and we look forward to executing our value-add strategy,” said David Faucher, CFA, Director of Investments at PTLA.
ABOUT PTLA REAL ESTATE GROUP
PTLA Real Estate Group is an independent company that acquires and manages real estate with a specific focus in the West Coast market. In our 50-year history, we have built a team and company centered around the goal of achieving a higher standard of excellence. For more information, please visit our website at www.ptlareg.com.