June 5, 2003
Apartment sales roundup
Here are some of the latest apartment building sales recorded, and reported, by some of the area's brokerages:
The six-unit Sound Breeze Apartments at 5034 Fauntleroy Way S.W. in West Seattle went for $660,000. Robert Forgie sold to David Rogge, with Marcus & Millichap brokers George Miller and Armand Tiberio putting the deal together.
The 21-unit Emerald Village apartments at 5610 Boston Avenue S.W. in Tacoma sold for $577,900. The seller was an individual from Napavine, Lewis County. The buyer was Emerald Village Apartments LLC of Redmond. Brokers Tim Ufkes and Robin Hays of Hendricks & Partners assembled the deal.
A six-unit building at 3948 N.W. Munson St. in Silverdale sold for $465,000. Gael B. Geniesse sold to Brian Bowman. Marcus & Millichap's Larry Corkins represented Bowman.
The 129-unit Ponderosa Apartments at 9314 E. Montgomery Ave. in Spokane sold for $3.77 million. The seller was Ponderosa Operating Partnership of Tacoma. The buyer was Cedar Oceanview Partners LP of Thousand Oaks, Calif. Hendricks & Partners' Robert Di Pietrae arranged the transaction. The Ponderosa operates under a HUD Section 8 subsidy program that benefits seniors.
Tim Travaille paid the Chan Family Trust $2.23 million for the Riverton Ridge Apartments at 3900 Southcenter Blvd. in Tukwila. Dan Swanson of Marcus & Millichap represented the trust and M&M's Elie Pieprz worked for Travaille.
And one retail deal: A retail center in Graham, Pierce County, sold for $1.05 million. Marc Y. Bhend sold Graham Village at 22007 Meridian Ave. E. to John Langkow. Marcus & Millichap broker Scott Bartmess represented Bhend.
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