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Seattle & Northwest   /   February 17, 2021

By: Lisa Brown

Tacoma Plaza Secures $45M in JV Equity

Joint venture equity in the amount of $45 million was recently arranged for the development of Tacoma Plaza, a 368-unit multifamily project located in Tacoma. The project is scheduled to be completed in 2023.

Jake Leibsohn and Ron Peterson of NorthMarq’s Seattle office, arranged the financing on behalf of Trent Development and Bridge Investment Group. Leibsohn and Peterson have secured more than $160 million in joint-venture equity for opportunity zone projects within the last year.

“This is the second joint venture we’ve structured between Trent Development and Bridge Investment Group,” said Leibsohn.

Tacoma Plaza is a 1.35-acre site located at 1502 Fawcett Ave., just minutes from several major employment nodes and transportation options. The project will consist of 368 residential units with a mix of studios, one-bedrooms and two- bedrooms with private balconies, large windows, two rooftop decks, two private courtyards, a dog spa and Topgolf.

Seattle-based Studio 19 Architects designed the project and Rush Commercial Construction of Gig Harbor is the general contractor.

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About the Author

Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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