Commencement Terrace

  • Type: Mixed Use
  • Size: 170
  • Location: Tacoma, WA
  • Year Built: 1979

SVN brokers worked with buyers coming out of a 1031 exchange. After raising equity to fund the purchase and future rehab of the property, the brokers worked with our clients, the lender, and sponsor to ensure a timely and seamless close. The value-add opportunity included $2.5 million in planned upgrades, resulting in a total purchase plus capital improvement cost of $15,500,000 with a projected 5-year internal rate of 19.3%.