Marcus & Millichap arranged the sale of the Borgatta Apartments in Renton, Wash.
The 83-unit community commanded a sales price of approximately $12.2 million.
A developer based in Tacoma, Wash, sold the property to Borgatta LLC.
Borgatta Apartments is located at 400 South 50th Street. The sale includes 93,720 rentable square feet on approximately 8 acres. The class A community was completed in 2002. The unit mix is made up of 24 one-bedroom, 17 two-bedroom and 39 three-bedroom apartment homes, which range in size from 850 to 1,325 square feet.
Occupancy was 90 percent at the time of sale.
Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.
***
What’s your opinion? Send your Letter to the Editor to opinion@inman.com.
You have {{data.cm.viewsLeft}} articles left this month.
This content is available to Inman Select subscribers.
Please select an option below.
Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
You have used all of your free pageviews.
Please subscribe to access more content.
Access denied!