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Kidder Sells Tacoma Multifamily for $21M
Coventry Court IV Apartments, a 100-unit, garden-style multifamily complex located in Tacoma, WA sold for $21 million in a deal arranged by Kidder Mathews between the seller, Goodman Real Estate and the buyer, Next Wave Investors.
The transaction involved a loan assumption from the seller to the buyer. “We want to thank the parties for an extremely smooth transaction. Having experience on both sides was very important for the loan assumption process, and we are excited to see what the buyer has planned for the Coventry Court Apartments,” said Kidder’s Brandon Lawler.
The 32-year-old community still has classic interior finishes, and at a sale price of $212,000 per unit, there is clearly demand for properties in Tacoma. The value-add acquisition suited the buyer, an experienced West Coast investor in a 1031 exchange.
- ◦Sale/Acquisition
