Twelve years ago, Continental-Bentall LLC, the developer of Montebello, sold the property to BRE, a San Francisco-based real estate investment trust, for $33.5 million.

Located at 1200 131st Lane N.E., the 13-year-old property sits on 19.25 acres. The Guincher family of Continental-Bentall builds high-end multifamily projects.

BRE officials could not be reached for comment, and Jesse Mack, who worked on the sale for Pacific, declined to comment.

Pacific's Web site states the company has an office in Seattle and buys apartments in major metro areas. It typically holds properties between two and five years. Since its inception 12 years ago, Pacific has bought 16,770 units with a cost basis exceeding $2.3 billion.