Benedict Canyon Equities Acquires The Lodge At Madrona Multifamily In Tacoma For $84M

The property asset involved in the transaction is a MultiFamily asset located at 3202 South Mason Avenue, Tacoma, WA. The sale amount was $84,000,000, and the total square footage of the property is 358,000, which equates to a price per square foot of $235.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $84,000,000
• Address: 3202 South Mason Avenue
• Market: Tacoma, WA
• Total Square Footage: 358,000
• Price Per Square Foot: $235
• Buyer: Benedict Canyon Equities
• Seller: Goodman Real Estate

Goodman Real Estate sold The Lodge at Madrona for approximately $84 million to an entity linked to Benedict Canyon Equities, which now holds ownership of 2,723 units across Washington. Despite ongoing sales and a lawsuit regarding its Addison on Fourth property, Goodman Real Estate is actively pursuing 17 developments in Pierce County.