Townhome Property in Tacoma Sells at Record Price
Narrows Townhomes, a 15-unit townhome community located at 8524 19th Street W. in Tacoma, Washington, has sold for $7.3 million in a fully-marketed transaction arranged by Kidder Mathews.
At $487,000 per unit, the sale represents the highest price per unit recorded for a multifamily property in Pierce County on record.
Elijah Piper and Tony Herrmann of the Simon | Anderson Multifamily Team at Kidder Mathews represented the seller.
The buyer, a longtime Puget Sound investor, plans to parcel out the townhomes individually for resale as single-family residences.
Completed in 2022, Narrows Townhomes features units averaging 1,650 square feet, each with a private garage and a rooftop patio overlooking the Narrows Bridge.
“The Narrows Townhomes presented a unique opportunity in the Tacoma market,” said Piper. “At this price point, buyers were initially cautious, but once they toured the asset and understood the quality and location, the value became clear. That continues to be the story in Pierce County, with high-quality product in top-tier locations still commanding premium pricing.”
Other News
Wisconsin MF Portfolio Sale, Financing Deal Completed by Berkadia
Berkadia announced the sale of Tivoli Green, a 458-unit multifamily property located in Mount Pleasant, Wisconsin. Senior Managing Director Pete Evans of Berkadia Chicago and Senior Director Richard Evans of Berkadia Milwaukee led the transaction on behalf of the seller, Wangard Partners, Inc. The buyer is Illinois-based Santefort Real Estate Group, LLC. Wangard has been retained to...
Learn more
Boston Financial’s 63rd Tax Credit Fund Secures $191M of Commitments
Boston Financial, the longest-standing syndicator focused exclusively on affordable housing, has closed on Boston Financial Institutional Tax Credits 63 Limited Partnership (ITC 63), a $191-million multi-investor Low-Income Housing Tax Credit (LIHTC) fund. Seven institutional investors participated in ITC 63, enabling the deployment of capital with 14 affordable housing developers across 16 communities in 12 states...
Learn more
Rithm Capital Closes on Largest RTL Multifamily Securitization to Date
Rithm Capital Corp. said Wednesday it had closed on NRMLT 2026-RTL1, a $375-million securitization backed entirely by multifamily loans originated and serviced by its subsidiary, Genesis Capital, LLC. The transaction represents both Genesis’s first multifamily-only securitization and the largest multifamily-only residential transition loan (RTL) securitization completed to date. NRMLT 2026-RTL1 is initially collateralized by a...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout