Institutional Property Advisors (IPA), a division of Marcus & Millichap, announced the sale of Willow Pointe, a 191-unit apartment property in Vancouver, Washington.
“Situated on over 15 acres, Willow Pointe has a park-like setting,” said Anthony Palladino, IPA vice president. “The property features a unique and desirable unit mix with an average unit size of 1,162 square feet. Furthermore, the community is partially comprised of townhome units, each with an attached two-car garage and private driveway.” Palladino and IPA’s Giovanni Napoli, Philip Assouad, Ryan Harmon, and Nick Ruggiero represented the seller, a local private partnership, and procured the buyer, an entity associated with Clarion Partners.
Located near the confluence of Interstate 5 and Interstate 205, Willow Pointe provides direct access to the Vancouver Waterfront District and the Greater Portland MSA. “Given the positive submarket dynamics, declining interest rate environment and the value-add potential for full interior and common area renovations, the opportunity was well received by investors within the marketplace,” added Palladino.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
Institutional Property Advisors (IPA) is a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.
