FIFE, WASH. — OpenPath Investments has completed the disposition of Pointe East Apartment Homes, an apartment community in Fife. 11 Capital LLC acquired the property for $31.7 million, or $256,048 per unit.
Philip Assouad, Giovanni Napoli, Ryan Harmon and Nicholas Ruggiero of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.
Built in 1986, Pointe East features 124 apartments, a leasing office, fitness center, outdoor courtyard with barbecue areas and a children’s playground. All apartments offer wood-burning fireplaces, extra storage spaces, private decks or patios, and a walk-in closet or dual closets in the main bedroom. The unit mix includes 37 one-bedroom units and 87 two-bedroom apartments.