IPA Brokers Three Tacoma MF Sales for $102M

IPA Brokers Three Tacoma MF Sales for $102M

Institutional Property Advisors (IPA), a division of Marcus & Millichap, completed the sale of three multifamily assets totaling 557 units in Tacoma, Washington, for $102.6 million.

“Located in a multifamily market with one of the largest housing imbalances in the nation, these acquisitions provide the buyers with the opportunity to capitalize on embedded rental and operational upside,” said Giovanni Napoli, IPA executive director.

Napoli and IPA’s Philip Assouad, Ryan Harmon, Nick Ruggiero, and Anthony Palladino represented the seller, Goodman Real Estate and procured the buyer, American Capital Group.

The properties are Monterra, Miramonte, and Heatherstone Apartments. The properties are in Tacoma’s Parkland neighborhood, situated near employment hubs in Seattle and Tacoma. The properties are also located near shopping and entertainment options at Tacoma Mall, Lakewood Towne Center, and South Hill Mall.

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