WEST RICHLAND, WA – Summerfield Commercial is pleased to announce the sale of the Quail Springs Apartments, a 118-unit community in the Tri-cities. Backflip LLC purchased the property, which is located at 4711 North Dallas Road, West Richland, WA. The previous owner and original developer was Vandervert Developments. Summerfield Commercial represented the buyer in this transaction. The brokers involved were Robert Parmar and Ryan Kidwell.
The selling price was $14.2 million and closed on January 31st, 2018. The sale price equates to $120,339 per unit, a record high for the Tri-Cities market.
Built in 2011, Quail Springs is a garden style community offering one, two, and three bedroom flats and three bedroom townhouse units. The complex includes a clubhouse, pool, hot tub, fitness center, business center, and playground. The average unit size is about 1,097 square feet.
Summerfield Commercial specializes in the brokerage and property management of larger multifamily assets throughout the Pacific Northwest.