Issaquah’s Lakemont Orchard Apartments sell for $39.5 million

October 4, 2012

By Staff

NEW — 10 a.m. Oct. 4, 2012

Issaquah’s Lakemont Orchard Apartments sold last month for $39.5 million, according to King County property records.

MainStay Investments, a division of New York Life Insurance Co., bought the 17-building complex from Invesco, a Dallas-based investment firm. The complex includes 201 units at 18305 S.E. Newport Way, near the Issaquah-Bellevue city line.

The complex opened in 1992. Invesco bought the apartment complex for about $21 million in 1998, according to county property records.

Issaquah annexed the area from King County in the 2006 Greenwood Point-South Cove annexation. The annexation extended city boundaries to include about 3,700 people.

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