### IPA Facilitates $35M Sale of Everett Apartment Property
Institutional Property Advisors (IPA), a division of Marcus & Millichap, has successfully arranged the sale of Sunrise Lane, a multifamily property located in Everett.
The transaction was managed by IPA executives Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero, and Anthony Palladino, who represented the seller and secured the buyer.
“Sunrise Lane presents an exceptional opportunity for the buyers to transform and modernize the units,” said Philip Assouad, IPA executive director. “Meticulously maintained by the previous long-term owner, the property is primed for a value-add repositioning, with units in classic condition ready for a stylish upgrade.”
Weidner Apartment Homes sold the asset to an undisclosed buyer for $35.1 million, equating to $268,130 per unit. Built in 2000 on six acres, Sunrise Lane is a gated community featuring a mix of one-, two-, and three-bedroom apartments. On-site amenities include a clubhouse, swimming pool, spa, and barbecue areas.
