December 4, 2015
PROVO, Utah (Dec. 1, 2015) – Peak Capital Partners, a Utah-based apartment investment and management company, today announced it acquired Arbor Park Apartments, a 180-unit property in Mount Vernon, Wash.
“This community is situated in the desirable Skagit County which is one of the fastest growing counties in Washington because of its proximity to Seattle, Bellingham, and Vancouver, B.C.,” said Nathan Nelson, a vice president at Peak. “We look forward to acquiring more properties and serving the housing needs of people in this area.”
The county is famous for its tulip fields, agribusiness, and has a strong manufacturing base with accessible ports. Arbor Park is near Skagit Valley College and an extension campus of Washington State University. Major industries in the area include education, healthcare, manufacturing, and agriculture.
Built in 1978 with major renovations in 2004, Arbor Park was developed with the Low Income Housing Tax Credit (LIHTC) federal housing program, making rent affordable to lower-income households. The property primarily offers one- and two-bedroom townhouse-style units.
About Peak Capital Partners
Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States. Founded in 2007, the firm owns 90 apartment communities in 15 states housing 14,000 families. Visit peakcapitalpartners.com.