The Park Townhomes

Park Luxury Townhomes in Puyallup, Washington presented a challenge as the owner had been fielding offers years and didn’t have an immediate need to sell. However, our team initiated off-market negotiations at the end of October with the requirement of closing by year-end. We connected with an aggressive client looking to expand their portfolio, who had recently purchased a similar property in Pierce County. Speed and communication were prioritized, with our client promptly conducting property assessments and appraisals after getting under contract. The property had a strong track record of no vacancies or delinquencies, allowing our client to reach the desired $17 million price and gain the owner’s trust by going non-refundable with earnest money. With efficient operations from day one, we successfully closed the property over a week before the original scheduled end-of-year closing date. The sale details include a sales price of $17 million, $333,000 per unit, $222 per net square foot, and a contract-to-closing timeline of 7 weeks.