Institutional Property Advisors Sells Heritage Square Multifamily Property In Puyallup For $25M

The property asset involved in the transaction is Heritage Square, a 104-unit multifamily property located at 1022 10th Avenue Southeast in Puyallup, Washington. This six-acre gated community was built in 2001 and includes townhome and rambler-style units with private garages. The sale price of the property was $25,000,000, equating to approximately $240,385 per unit.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,000,000
• Units: 104
• Price Per Unit: $240,385
• Acres: 6
• Sale Date: 10/22/2026
• Address: 1022 10th Avenue Southeast
• Market: Puyallup, WA

The transaction was facilitated by several brokers including Philip Assouad, Giovanni Napoli, Ryan Harmon, Nicholas Ruggiero, and Anthony Palladino from Institutional Property Advisors, as well as Jake Morse from Marcus & Millichap. The deal offers the buyer a potential value-add opportunity through renovations and updated finishes.