In Tacoma, Washington, Institutional Property Advisors (IPA), a division of Marcus & Millichap, recently closed the sale of three multifamily properties for a total of 557 units and $102.6 million.
According to IPA executive director Giovanni Napoli, these acquisitions present an opportunity for buyers to take advantage of potential rental and operational growth in a market with significant housing imbalances.
Napoli worked alongside IPA colleagues Philip Assouad, Ryan Harmon, Nick Ruggiero,and Anthony Palladino to represent the seller Goodman Real Estate and secure American Capital Group as the buyer.
The properties involved in this transaction are Monterra Apartments,Miramonte Apartments,and Heatherstone Apartments. These properties are located in Tacoma’s Parkland neighborhood near major employment centers such as Seattle and Tacoma. They also offer convenient access to popular shopping destinations like Tacoma Mall,Lakewood Towne Center,and South Hill Mall.
This successful deal was reported by Connect CRE.
