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The Neiders Company Pays $7.3M for Pointe at Coffee Creek

69-Unit Apt Community Trades Hands in Spanaway
February 2, 2018
The Neiders Company, a fully-integrated national real estate investment firm based in Seattle, purchased the Pointe at Coffee Creek apartment community in Spanaway, WA from a private investor for $7.29 million, or about $106,000 per unit.

The 69-unit multifamily property features a mix of one- and two-bedroom floorplans ranging in size from 650 to 860 square feet. Community amenities include laundry facilities and an on-site property manager.

At the time of sale, the 50,958-square-foot asset was approximately 84 percent occupied.

Mitchell Belcher of CBRE represented the seller in this transaction. Steven Chattin, also of CBRE, represented the buyer.

Please refer to CoStar COMPS #4097246 for more information on this transaction.
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