Justin Ryan Delamarter Acquires 88-Unit Richland Court Apartments From KEI Apartment Fund 9 LLC For $19.94M

The Richland Court apartment complex, a multi-family asset involving 88 units, was sold for $19,940,000, translating to approximately $226,591 per unit. Located at 2433 George Washington Way in Richland, Washington, the property was constructed in 1994 and features one-, two-, and three-bedroom units. Notable amenities include a pool, fitness center, and clubhouse.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $19,940,000
• Units: 88
• Price Per Unit: $226,591
• Buyer: Justin Ryan Delamarter
• Seller: KEI Apartment Fund 9 LLC
• Brokers: Joe Kinkopf, Tyler Smith & Steve Fischer - NorthMarq
• Sale Date: 01/31/2025

An investor group led by Justin Ryan Delamarter facilitated the acquisition of the property as part of a tax-deferred exchange. The transaction highlights the involvement of NorthMarq as the brokerage firm representing the parties in this deal.