Greg Fowler's FPA Multifamily Acquires The Atrium On James Multifamily In Kent For $60.4M

The Atrium on James apartments in Kent, Washington has been sold for $60.4 million. The 300-unit multifamily property, consisting of 22 buildings, was acquired by Greg Fowler of FPA Multifamily through an affiliated entity. The sale price equates to $201,333 per unit and $234 per square foot.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $60,400,000
• Address: 6248 South 242nd Place, Kent, WA
• Market: Kent, WA
• Buyer: Greg Fowler - FPA Multifamily
• Brokers: Nick Ruggiero, Anthony Palladino, Giovanni Napoli, Philip Assouad & Ryan Harmon - Institutional Property Advisors
• Lender: Berkadia
• Units: 300
• Price Per Unit (PPU): $201,333
• Square Footage (SF): 257,600
• Price Per Square Foot (PPSF): $234

The deal was facilitated by brokers Nick Ruggiero, Anthony Palladino, Giovanni Napoli, Philip Assouad, and Ryan Harmon of Institutional Property Advisors. Berkadia served as the lender in the transaction.