VDR Investments Homes LLC has purchased Vista Del Rey, a 17-story, 130-unit apartment complex, located at 319 N. Tacoma Avenue in Tacoma, Washington, for $25.7 million. Commercial real estate broker, Tyler Stanek, a vice president at Kidder Mathews, represented the buyer in the transaction.
Vista Del Rey is in the popular Stadium District. Included in the sale was the adjoining .67-acre land parcel that could potentially accommodate an additional 130 units. The property has quick access to I-5 via highway 705 and downtown Tacoma is easy to get to via bicycle, car, bus, or Tacoma’s new light rail extension, scheduled for completion in 2022.
VDR Investment Homes LLC, led by Rose Stanek-Norbe of Tyroda LLC, was able to secure the contract, teaming up with Targa Property Management. “Our combined passion for acquiring and improving properties in Tacoma made this a great partnership. The vision for Vista Del Rey is to modernize while maintaining its classic mid-century appeal,” said Stanek-Norbe.
About Tyroda LLC
Tyroda LLC is a private real estate firm that focuses exclusively on the multifamily sector. Tyroda LLC specializes in value-add and opportunistic real estate investments in major metropolitan markets in need of recapitalization, repositioning, or significant renovation.
About Kidder Mathews
Kidder Mathews is the largest independently owned commercial real estate firm on the West Coast, with 800 real estate professionals and staff in 22 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, project & construction management, and debt & equity finance services for all property types. The firm performs $9 billion in transactions, manages 60 million square feet of space, and conducts over 1,600 appraisals annually.