A 131-unit luxury apartment complex in the north end of downtown Tacoma recently sold for $35.4 million, according to Puget Sound Business Journal. This marks the second sizable multifamily sale in the Tacoma area this quarter, with rents ranging from $1,400 to $2,500 per month. The seller was Mercer Island-based Barcelo Homes who developed and completed the project earlier this year; an entity affiliated with Tacoma-based Dobler Property Management is now listed as buyer.
Nick Ruggiero, Ryan Harmon, Philip Assouad and Giovanni Napoli of Institutional Property Advisors (a division of Marcus & Millichap) brokered the sale which works out to a price per unit at around $270k each. Located near Wright Park and Tacoma General Hospital on 308 Tacoma Ave S., Pine Street Townhomes also traded hands earlier this month for a total sum of 17 million dollars between Portland’s Ethos Development Group and San Francisco’s Lombard Equities Group . Photo courtesy Barcelo Homes .
