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New Olympia Apartment Community Trades for $21M The Mogharebi Group

New Olympia Apartment Community Trades for $21M

The Mogharebi Group has helped arrange the $21 million sale of Crescent Point, a newly constructed, 62-unit multifamily property in Olympia, WA. The three-story complex features a mix of one-, two- and three-bedroom units, with vaulted ceilings, granite countertops and in-unit washers and dryers.

Ryan Kidwell of The Mogharebi Group represented the buyer, a San Francisco-based investment company, in the off-market transaction. “Crescent Point presented the buyer with an opportunity to replace an apartment community in a 1031 exchange,” said Kidwell in a news release. “The seller, with whom we’ve had a previous relationship, was very cooperative which contributed to the success of this transaction.”

The property is within 30 minutes of Joint Base Lewis-McChord, the 4th largest military base in the world with a population of over 200,000. Crescent Point is also located just five miles from major retailers including Costco, Home Depot, Lowe’s and Walmart.


Inside The Story

The Mogharebi GroupCrescent PointRyan Kidwell

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

  • ◦Sale/Acquisition
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