A 339-unit Federal Way apartment complex has been sold to a real-estate investment partnership associated with Swiss bank UBS.

A 339-unit Federal Way apartment complex has been sold to a real-estate investment partnership associated with Swiss bank UBS.

The buyer paid $52 million this week for the 27-building Lodge at Peasley Canyon development, built in 2003.

It was the third King County apartment complex to sell this year for more than $50 million.