Two side-by-side apartment complexes in central Federal Way just set the pace for King County's commercial real estate market this year. Bridge Investment Group has snapped up The Ridge and The Shores, a combined 335-unit portfolio, in what county records show is the largest commercial property sale recorded in King County so far in 2026. The deal underscores that big-money investors are still hungry for Seattle-area suburban rentals.
As reported by the Puget Sound Business Journal on Feb. 26, 2026, Bridge closed on the acquisition and folded the 335 apartments into its national multifamily portfolio. The Federal Way buy slots neatly into a recent run of institutional trades in Puget Sound suburbs as investors chase larger, value-add apartment deals.
Price Tag And Paper Trail
King County deed records show the two properties changing hands for roughly $78 million, or about $232,800 per unit, according to The Registry. That pricing puts the trade among the largest multifamily transactions in the metro area this month.
What Bridge Is Getting
Weidner Apartment Homes identifies the communities as The Ridge and The Shores, with one-, two- and three-bedroom floorplans and amenities that include clubhouses, a fitness center and a seasonal pool, according to the manager's online property listing. The adjacent complexes sit just off South 320th Street in central Federal Way and are marketed as commuter-friendly communities.
Why Investors See Upside
The broker's offering package pitched the pair as a classic value-add play, noting that interior and common-area upgrades could support higher rents, according to the offering materials. The package also leaned on the communities' proximity to the Federal Way Transit Center and the future Link Light Rail extension as key demand drivers, with those transit and improvement angles forming the core of the sales story for institutional buyers.
Inside Bridge's Playbook
Bridge Investment Group is a national investment manager that runs multiple real estate strategies and has been active in the multifamily sector. The firm's public filings and investor materials highlight a focus on acquiring, repositioning and operating properties at scale. That platform helps explain why Bridge would target a 335-unit, transit-adjacent portfolio in a relatively affordable Seattle-area suburb.
For Federal Way, the new ownership could cut both ways. Local leaders and renters may see potential benefits, such as fresh capital for improvements and steadier professional management, along with pressures that can come with unit repositioning and higher market rents. We will be watching public filings and local permit activity around the properties for early signs of any planned upgrades or repositioning.
