University Place, WA – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Garden Court West, a 64-unit apartment complex located in University Place, WA. The asset sold for $9,800,000.
Timothy Ufkes of the Ufkes Group in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.The buyer was a local limited liability company.
Garden Court West is located at 7654 40th Street W, University Place, Washington. The property was constructed in 1972 and includes a mix of 20 one-bedroom, 42 two-bedroom, and 2 three-bedroom units. Garden Court West features amenities such as free parking, laundry facilities, a clubhouse, pool, and courtyard and is within 5 miles of the Tacoma Mall.
About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors.