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April 28, 2016

2 Tacoma complexes sell for $9M

Tim Ufkes of Berkadia's Seattle office and Jim Jensen of the Tacoma office negotiated the sale of two Tacoma apartment complexes with 136 units. The combined sale price was $9.3 million, or approximately $68,015 per unit. They are The Vintage, an 84-unit property at 518 S. Seventh St. built in 1929, and Pennington, a 52-unit complex at 702 Martin Luther King Jr. Way built in 1931. The buyer was Orbeth LLC of Seattle, and it plans to renovate units and common areas in both properties.




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