Portsmith Apartment LLC purchased the Portsmith Apartments at 12121 Admiralty Way in Everett. The 268-unit complex, built in 2000, was acquired for $25.7 million from Admiralty Apartment LLC at a 6.06 percent cap rate. The per-unit price was equal to about $95,896. The seller is a holding company for Continental-Bentall and the buyer is a holding company for a local investor.