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Institutional Property Advisors Brokers $72 Million Puget Sound Multifamily Asset Sale
BusinessWire ·
BusinessWire reports: Institutional Property Advisors (IPA), a division of Marcus & Millichap ( ) dedicated to serving the company’s institutional clients, announced today the sale of The Groves Apartments, a 366-unit multifamily property in Kent, Washington. The $72 million sales price equates to $196,721 per unit. “The Groves gives the buyer a compelling opportunity to build on an established renovation program,” said Philip Assouad, IPA executive managing director. “Since acquiring the…