Rising property values in core markets like New York and Chicago have led some multifamily investors to pursue deals in secondary and tertiary markets, where there's less competition and a higher potential return on investment. Among these sought-after cities: Seattle, where Taylor Johnson client Waterton Associates recently acquired Taluswood Apartments, a 512-unit rental community in north suburban Mountlake Terrace. The deal marks Waterton's second acquisition in the Seattle market in the last 12 months. Last December, it reentered the market with the acquisition of Martha Lake Apartments, a 155-unit community in north suburban Lynnwood.