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Institutional Property Advisors Brokers Sale and Arranges Financing for Eastside Seattle Multifamily Asset

June 27, 2023
REDMOND, Wash., June 26, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale and financing of Aria, a 102-unit, transit-oriented, boutique multifamily property with 2,161 square feet of retail space in Redmond, Washington. The asset traded for $46.5 million.

“Aria is prominently located along 168th Avenue NE, just minutes from Interstate 405 and Redmond’s downtown core,” said Philip Assouad, IPA executive director. “The property is within a three-minute walk of Redmond’s Central Connector Trail and the Downtown Redmond light rail station, which is scheduled to open in 2025, giving commuters access to Downtown Bellevue, Downtown Seattle, and SEA International Airport.” Assouad, with IPA’s Giovanni Napoli, Nicholas Ruggiero, Ryan Harmon, Ryan Dinius, and Sidney Warsinske, represented the seller, Aria Flats LLC, a partnership of SR Investment Group, a Kirkland-based real estate investment company; and Seattle-based developer Pastakia + Associates. Assouad’s team procured the buyer, Pine Forest Properties, and IPA Capital Markets’ Ray Allen arranged acquisition financing.

Read the full story in Connect CRE



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About Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), 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. For more information, please visit

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