The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
March 29, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



HOME PAGE NEWS
Printer-friendly Version   Email an Associate
WA Multifamily Property Acquired for $33.8 Mil by Exchange Buyer

2/15/18

A 1031 exchange investor paid $33.8 mil for Willow Springs Apartments, a 154-unit ($220k/unit) apartment complex in Puyallup, WA. Built in 1996, the property sits on 8.6 acres at 608 39th Ave SW.

Willow Springs Apartments is a fully gated complex with a unit mix of one-, two- and three-bedroom apartments. The amenity package includes a fitness center, swimming pool, Jacuzzi, playground, and car wash stations.

The property is across the street from a Pierce County Transit terminal and South Hill Mall, one of the area’s major retail destinations. Access to Interstate 5 and Washington State Highway 512 is nearby, as are the Good Samaritan Hospital, the Washington State Fair, Pierce College, and Rogers High School.

Timothy Ufkes, Evan McLeod and Jordan Smith with Marcus & Millichap represented the buyer and the seller, a private partnership. According to Ufkes, the property is in an area that has shown considerable rent growth, which can be attributed to a strong and growing local economy, steady multifamily investment activity, a shortage of new supply and the propensity to rent instead of purchase.





Return to the Archive page


 


 


 


 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media