Interstate Equities Corp Acquires MultiFamily Asset From Goodman Real Estate For $43 Million
Washington
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The property asset involved in this transaction is a multi-family development located at 10710 17th Avenue Southwest & 10600-10724 16th Avenue South in Seattle, WA. It was sold for $43 million, equating to a price per unit of $173,387. The complex consists of 248 units constructed between 1986 and 1988, and it includes shared amenities such as a pool and fitness center.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $43,000,000
- Units: 248
- Price Per Unit: $173,387
- Buyer: Interstate Equities Corp
- Seller: Goodman Real Estate
- Brokers: Giovanni Napoli, Philip Assouad, Nicholas (Nick) Ruggiero & Anthony Palladino - Institutional Property Advisors
The deal was facilitated by Institutional Property Advisors, a division of Marcus & Millichap, who marketed the properties. Goodman Real Estate completed the sale of Sienna and Sienna Park in Tacoma to Interstate Equities, confirming the transaction's completion.
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