The Accend Cos Expands Pacific Northwest Footprint with $72.4 Million Acquisition

The Accend Cos expands its military housing portfolio with the $72.4M acquisition of Wellstone at Bridgeport in Lakewood, WA, supported by Newmark and Allied Orion.

By: AXL Media

Published: Mar 11, 2026, 9:38 AM EDT

Source: https://www.multihousingnews.com/

A High-Value Trade in the Puget Sound Corridor

The sale of Wellstone at Bridgeport represents a significant shift in ownership for the Lakewood submarket, as Momentum Partners Inc. divested the asset following a five-year development cycle. The $72.4 million price point reflects the premium placed on modern, stabilized assets within close proximity to major employment hubs. To facilitate the acquisition, Newmark originated a $44 million Freddie Mac loan, which is structured with a maturity date in 2028, providing the new owners with a stable mid-term capital framework.

Strategic Proximity to Defense Installations

The asset’s primary value proposition lies in its geographic advantage. Situated less than a mile from Interstate 5, the community is positioned roughly 40 miles south of downtown Seattle, but more importantly, it sits at the doorstep of the region’s largest military hubs. Residents are within minutes of McChord Air Force Base, Camp Murray, and Fort Lewis—collectively part of Joint Base Lewis-McChord (JBLM). This location ensures a consistent demand pipeline from service members seeking off-base living options that offer higher-end amenities than traditional barracks.

Modern Living Standards for a Mobile Workforce

Wellstone at Bridgeport consists of four buildings on a seven-acre site, offering a mix of one- and two-bedroom floor plans. The property was designed to accommodate the flexible needs of both military and executive residents, featuring lease terms that range from one to 15 months. Common-area amenities are geared toward lifestyle and convenience, including a 24-hour fitness center, a "Lodge" clubhouse, a pool with a sun deck, and specialized features like bike storage and reservable garages.