Interstate Equities Corp Acquires MultiFamily Asset From Goodman Real Estate For $43 Million

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.