Washington Archives - REBusinessOnline

IPA Brokers Sale of Two Multifamily Communities in South Puget Sound Region

Amy Works — Tue, 13 Oct 2026 14:26:16 +0000

OLYMPIA, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of two apartment properties in Olympia. Hillsboro, Ore.-based Bender Equities sold the assets to FPA Multifamily for $43.7 million, or $154,417 per unit. Situated on more than 18 acres at 3000 Cardinal Drive NW, the adjacent properties include the 170-unit Evergreen Garden Apartments and the 113-unit Rock Maple Village Townhomes. Built in 1973, Evergreen Garden Apartments features 18 two-story residential buildings with a mix of one-, two- and three-bedroom apartments, a standalone clubhouse, an open park area with a basketball court, fenced children’s playground and covered barbecue and picnic area. Completed in 2004, Rock Maple Village features a mix of one-, two- and three-bedroom layouts spread across 10 two-story residential buildings. Community amenities include a children’s playground and picnic area, a basketball court and a large open lawn. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the seller and procured the buyer in the deal.

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Marcus & Millichap Arranges Sale of 58,410 SF Pak-A-Nut Storage Facility in Northwest Washington

Amy Works — Tue, 13 Oct 2026 13:54:31 +0000

BELLINGHAM, WASH. — Marcus & Millichap has directed the sale of Pak-A-Nut Storage, a self-storage facility in Bellingham. A local private owner that built and self-managed the property for 20 years sold the asset to a Phoenix-based institutional self-storage owner for $8 million. Situated on 5.8 acres at 840 Marine Drive, Pak-A-Nut Storage offers 58,410 square feet of self-storage space and more than 2 acres of land with potential for future expansion. Public Storage will serve as third-party manager for the new ownership. Chris Secreto of Marcus & Millichap represented the seller and procured the buyer in the transaction.

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IPA Negotiates $72M Sale of Apartment Community in Kent, Washington

Amy Works — Thu, 08 Oct 2026 14:22:29 +0000

KENT, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $72 million sale of The Groves Apartments, a multifamily property in Kent, a southern suburb of Seattle. RISE Properties sold the community to FPA Multifamily LLC for $196,721 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented both parties in the deal. Built in 1980 on 20 acres, The Groves Apartments comprises 30 two- and three-story residential buildings, a newly renovated clubhouse, an outdoor heated pool, a children’s playground and two dog parks. The property features 366 one-, two- and three-bedroom apartments with an average size of 836 square feet. Each apartment includes a private patio or balcony, while the two- and three-bedroom units feature fireplaces.

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Kidder Mathews Negotiates Sale of 58,255 SF Industrial Building in Tacoma, Washington

Amy Works — Wed, 07 Oct 2026 14:42:04 +0000

TACOMA, WASH. — Regional brokerage firm Kidder Mathews has negotiated the sale of a single-tenant industrial building located at 2223 S. 80th St. in Tacoma, approximately 35 miles south of Seattle. Matt McLennan and Andy Miller of Kidder Mathews represented the seller in the transaction, and Doug Klein of Kidder Mathews represented the buyer. Both parties requested anonymity. Built in 1993 on 2.4 acres, the 58,255-square-foot building is known locally as the Smith-Western Building and was fully leased at the time of sale to the wholesale distributor of souvenirs and tourist merchandise of the same name. The company has occupied the property since 1999 and recently executed a new 72-month lease beginning in Jan. 1, 2026 and running through Dec. 31, 2031. The lease also includes one five-year renewal option. Located within the Tacoma/Lakewood industrial submarket, the property provides immediate access to I-5 and connectivity to the Port of Tacoma, Seattle-Tacoma International Airport and the broader Puget Sound region. Building features include 24-foot clear heights, nine dock-high doors, two grade-level doors, three exterior levelers, a wet sprinkler system and 1,600 amps of power.

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CBRE Negotiates $53M Sale of Townhome Community in Lacey, Washington

Amy Works — Thu, 01 Oct 2026 12:53:17 +0000

LACEY, WASH. — CBRE has directed the sale of Chambers Reserve, a townhome property in Lacey. The asset traded for $53 million. The names of the seller and buyer were not released. Jordan Louie, Eli Hanacek, Kyle Yamamoto and Natalie Kasper of CBRE represented the seller in the transaction. Located at 3725 Wildspitz St. SE, Chambers Reserve offers 125 three- and four-bedroom townhome floor plans, with an average unit size of 1,736 square feet, spread across 23 residential buildings. Community and unit amenities include two-car garages, private decks, air conditioning, quartz countertops, stainless steel appliances, a 24-hour fitness center, a seasonal swimming pool and a clubhouse.

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GID Acquires 524-Unit Griffis North Creek Multifamily Community in Bothell, Washington

Amy Works — Tue, 29 Sep 2026 13:39:20 +0000

BOTHELL, WASH. — GID has purchased Griffis North Creek, a multifamily property in Bothell, from Griffis Residential for an undisclosed price. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 1999, Griffis North Creek features 524 one-, two- and three-bedroom apartments, with an average size of 835 square feet, spread across 23 three-story buildings. All units offer a private deck or patio, full-size washers/dryers, walk-in closets and linen closets. Community amenities include wooded walking trails, pagodas, footbridges, a renovated central clubhouse and lounge, a heated swimming pool and spa, two playgrounds and a fenced-in dog park.

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Northmarq Brokers $8.2M Sale of Multi-Tenant Retail Center in North Bend, Washington

Amy Works — Wed, 16 Sep 2026 13:16:36 +0000

NORTH BEND, WASH. — Northmarq has arranged the sale of J.O. Borgen Plaza, a multi-tenant retail center in North Bend, approximately 30 miles southeast of Seattle. The asset traded for $8.2 million. Sean Tufts, Kevin Adatto, Joe Dugoni and Jack Hallberg of Northmarq’s Pacific Northwest retail investment sales team represented the undisclosed seller and undisclosed buyer in the deal. Located at 248-250 Bendigo Blvd. South and 249 Main Ave. South, the 28,418-square-foot center is occupied by a freestanding Wells Fargo branch, Jersey Mike’s Subs and The UPS Store. Additionally, the center features a 17,958-square-foot former Bartell Drugs building, which was vacant at the time of sale. The sale was aligned with a commercial national retailer to backfill the Bartell Drugs’ property, with an opening slated for 2027.

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Davis Property & Investment Receives $12M Refinancing for Multi-Building Industrial Park in DuPont, Washington

Amy Works — Tue, 15 Sep 2026 13:28:55 +0000

DUPONT, WASH. — David Property & Investment has received $12 million in refinancing for Center Plaza, a multi-building industrial park in DuPont. Mike Wood and Tim Brown of Gantry secured the financing through Securian Financial for the borrower. Center Plaza features a mix of industrial/flex facilities in a campus environment with a tenant roster of a diverse range of industries.

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Sagard Real Estate Acquires 133,750 SF Industrial Property Near Seattle

Amy Works — Mon, 14 Sep 2026 14:12:43 +0000

TUKWILA, WASH. — Sagard Real Estate has purchased 1100 Andover Park West, an industrial asset in Tukwila, approximately 12 miles south of Seattle. Situated on 5.6 acres, the 133,750-square-foot property features a clear height of 24 feet, 16 dock-high loading doors and four points of ingress and egress. At the time of sale, the asset was fully occupied by a national wholesale distributor that has opened at the site for more than 25 years. Sagard Real Estate is a U.S.-based real estate investment advisor and subsidiary of Sagard, a global multi-strategy alternative asset management firm.

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Cowboy Space Leases 291,035 SF Industrial Facility in Kent, Washington for Production Site

Amy Works — Wed, 09 Sep 2026 14:32:36 +0000

KENT, WASH. — Cowboy Space, an aerospace and advanced manufacturing firm, has leased a 291,035-square-foot facility at 7650 S. 228th St. in Kent, a suburb 20 minutes south of Seattle, from CenterPoint. Thad Mallory and Taylor Hoff of Newmark represented the landlord in the transaction. Cowboy Space will transform the asset into a specialized advanced manufacturing operation supporting space and rocket development, adding approximately 300 jobs to the region’s aerospace industry. The project will include significant tenant and landlord-funded capital improvements, including new office construction, power and ventilation upgrades, enhanced security measures and flooring improvements. Most recently occupied by Costco, the property was originally developed as a distribution facility.

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Freestone Capital Acquires Aperture on Fifth Multifamily Community in Downtown Seattle for $32.2M

Amy Works — Fri, 04 Sep 2026 13:34:18 +0000

SEATTLE — Freestone Capital has purchased Aperture on Fifth, an apartment property in downtown Seattle, from PrivatePortfolio Group for $32.2 million or $304,245 per unit. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Situated in the Denny Triangle neighborhood, Aperture on Fifth features 106 studio, one- and two-bedroom apartments with oversized windows and electric fireplaces. Community amenities include a central atrium courtyard, rooftop deck with a full-size bocce ball court, fitness center, bike storage, package lockers, a pet wash area and an underground parking garage.

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IPA Negotiates Sale of 95-Unit Apartment Complex in Seattle’s Eastlake Neighborhood

Amy Works — Wed, 02 Sep 2026 14:23:34 +0000

SEATTLE — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of East Howe Steps, an apartment complex located in Seattle’s Eastlake neighborhood. The seller was Bender Equities. An affiliate of Sequel Investment Co. and Evergreen Gavekal acquired the property for $35 million, or $351,579 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA, represented the seller in the deal. Brian Eisendrath, Cameron Chalfant, Jake Vitta, Ray Allen and Tyler Johnson of IPA Capital Markets arranged acquisition financing for the buyer. Completed in 2016, East Howe Steps features two four-story buildings with a total of 95 studio, one- and two-bedroom apartments, four live/work units with private street-level entrances and 3,000 square feet of ground-floor retail space. The property includes a rooftop deck, open-air walkways, landscaped courtyards, a fitness center, controlled-access parking garage, bike storage and onsite paddle board and kayak rentals.

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Freestone Capital Acquires 106-Unit Multifamily Property in Seattle for $32.2M

Amy Works — Tue, 01 Sep 2026 13:49:51 +0000

SEATTLE — Freestone Capital has acquired Aperture on Fifth, a 106-unit multifamily property located in the Denny Triangle neighborhood of Seattle. PrivatePortfolio GroupFreestone Capital sold the property for $32.2 million, or $304,245 per unit. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer, both of which are Seattle-based, in the transaction. Built in 2014, Aperture on Fifth comprises studio, one- and two-bedroom apartments along with a central atrium courtyard, rooftop deck with a bocce ball court, fitness center, bike storage, package lockers, pet wash area and an underground parking garage. Some units feature views of the Space Needle and the downtown Seattle skyline.

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IPA Arranges $37M Sale of Vista Ridge Apartments in Issaquah, Washington

Amy Works — Fri, 28 Aug 2026 14:15:31 +0000

ISSAQUAH, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $37 million sale of Vista Ridge Apartments, a multifamily property in Issaquah, located east of Seattle. The sales price equates to $406,593 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the buyer and seller, both of which requested anonymity, in the deal. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Ray Allen, also with IPA, arranged acquisition financing for the buyer. Vista Ridge Apartments features 91 two – and three-bedroom units averaging 1,106 square feet, as well as an outdoor heated pool, indoor spa and sauna, fitness center and a fenced dog park.

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Cushman & Wakefield Arranges $250M Refinancing for 506-Unit Multifamily Property in Seattle

Amy Works — Fri, 21 Aug 2026 15:17:14 +0000

SEATTLE — Cushman & Wakefield has arranged a $250 million refinancing for Museum House, an apartment community in Seattle. Dave Karson, Christopher Moyer, Alex Lapidus and Meredith Crawford of Cushman & Wakefield represented the sponsor, a pension trust, in arranging the financing, which was provided by Barings. Completed in 2025, Museum House features 506 studio, one-, two- and three-bedroom residences, including 404 market-rate apartments and 102 income-restricted affordable homes through Seattle’s Multifamily Tax Exemption program. The property consists of two residential towers connected by a glass-enclosed skybridge approximately 300 feet above ground. Community amenities include a rooftop pool and hot tub, an indoor/outdoor fitness center, coworking spaces, resident lounges, a creative kitchen, pet amenities and wellness programming. Additionally, the community offers 6,010 square feet of ground-floor retail space.

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IPA Arranges $47.5M Sale of Cascadia Fairwood Landing Apartments in Renton, Washington

Amy Works — Thu, 20 Aug 2026 14:16:43 +0000

RENTON, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $47.5 million sale of Cascadia at Fairwood Landing, a multifamily property in Renton’s Fairwood neighborhood. Giovanni Napoli, Philip Assouad, Ryan Harmon, Anthony Palladino and Nicholas Ruggiero of IPA represented the seller, Sack Capital Partners, and procured the buyer, Bridge Partners, in the deal. Built in 1981 and renovated in 2025, Cascadia Fairwood Landing features 15 two- and three-story residential buildings, an outdoor pool, fitness center and an outdoor pagoda with barbecue stations and seating. The property’s one-, two and four-bedroom apartments also offer full-size washer/dryers.

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Breakthrough Properties Buys Biomanufacturing Facility Near Seattle for $78M

Amy Works — Mon, 17 Aug 2026 13:26:53 +0000

EVERETT, WASH. — Breakthrough, a joint venture of Tishman Speyer and Bellco Capital, has acquired a biomanufacturing facility in Everett, a suburb of Seattle, for $78 million. In tandem with the acquisition, Breakthrough secured a separate 21-year lease for the entire campus with a global biopharmarceutical company to create a U.S. manufacturing facility. The 270,000-square-foot facility can support a range of uses, including drug manufacturing, quality-control lab operations and, warehouse/distribution functions. The property also offers administrative office spaces and an onsite café. The site, located at 215 Shuksan Way, was originally leased to a biotechnology company that invested approximately $350 million to build out a biomanufacturing facility but never moved in after being acquired in 2023. The transaction marks Breakthrough’s first investment in the Puget Sound region. The name of the seller was not released.

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Northmarq Brokers $22.5M Sale of 178-Unit Go Go Heights Apartments in Spokane, Washington

Amy Works — Mon, 17 Aug 2026 13:24:00 +0000

SPOKANE, WASH. — Northmarq has brokered the $22.5 million sale of Go Go Heights Apartments, a 178-unit, garden-style multifamily community in Spokane. An entity doing business as LC Gogo Heights LLC sold the property to an undisclosed, Washington-based private investment firm. Tyler Smith, Steve Fischer, Joe Kinkopf and Brendan Greenheck of Northmarq’s Seattle Investment Sales team represented the seller in the deal. Located at 7024 N. Colton St., Go Go Heights Apartments features two- and three-bedroom apartments with hardwood laminate flooring, walk-in closets, in-unit fireplaces, vaulted ceilings and private balconies. Amenities include indoor parking and a pool. The property was built in 1989.

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JLL Provides $42M Agency Loan for Refinancing of Multifamily Property in Vancouver, Washington

Amy Works — Thu, 13 Aug 2026 13:38:00 +0000

VANCOUVER, WASH. — JLL has provided a $42 million Fannie Mae loan for the refinancing of Portola Bridge Creek, a 270-unit, garden-style community in Vancouver. The borrower was Irvine, California-based SB Real Estate Partners, which has owned the property since 2022. Built in 1989, Portola Bridge Creek offers one-, two- and three-bedroom floor plans along with a pool with poolside grills, playground, dog parks, automated Amazon package locker and a 24-hour fitness center. Charles Halladay, Rick Salinas and Elijah Lax led JLL’s team on the transaction.

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Mesa West Capital Provides $52M Loan for Refinancing of Sumner Mill Apartments Near Seattle

Amy Works — Fri, 07 Aug 2026 13:40:09 +0000

SUMNER, WASH. — Mesa West Capital has provided Timberlane Partners with a $52 million short-term, first-mortgage loan to refinance Sumner Mill Apartments in Sumner, approximately 30 miles south of Seattle. Joshua Westerberg led the Mesa West Capital team that originated the loan. Jake Roberts of BWE’s Los Angeles office arranged the financing. Delivered in 2024 by the sponsor, Sumner Mill Apartments features 162 garden-style studio, one- and two-bedroom apartments spread across 3.8 acres at 5816 162nd Ave. E. Community amenities include an outdoor pool, fitness center, resident clubhouse with full kitchen, conference room, package room, dog park, picnic area, EV-enabled parking spaces and rooftop solar panels.

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