Northmarq’s Seattle Investment Sales team, led by Joe Kinkopf, Steve Fischer, and Tyler Smith, successfully led the $19.55 million sale of Merritt Manor, an 82-unit midrise apartment community located at 3335 Martin Way E. in Olympia, Washington.

Northmarq represented the seller, Fourth Street’s Merritt Manor LLC. The buyer was Merritt Manor LLC. Built in 2020, Merritt Manor offers two- and three-bedroom floor plans with stainless steel appliances, granite countertops, moveable kitchen islands, full-size washer and dryer, carpeted bedrooms, plank vinyl flooring, and walk-in closets.

“Despite the property’s unique Multifamily Tax Exemption structure limiting the buyer pool, our team successfully sourced a private investor with deep Low-Income Housing Tax Credit and Housing and Urban Development Lending experience,” said Kinkopf. Located just off Interstate 5, Merritt Manor is situated near restaurants, shopping, groceries, and healthcare services. It is roughly two miles from Olympia’s Historic District.