Institutional Property Advisors Brokers Sale of Two Multifamily Assets in Seattle Metro Area
February 25, 2026
FEDERAL WAY, Wash., Feb. 25, 2026 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of The Ridge and The Shores, two adjacent multifamily assets with a combined 335 apartments in Federal Way, Washington.
“Operated as one community by long-term ownership, these two well-maintained multifamily assets give the buyer a blank-slate value-add opportunity,” said Philip Assouad, IPA senior managing director investments. Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of IPA represented the seller, Weidner Apartment Homes, and procured the buyer, Bridge Investment Group.
Located on over 20 acres off South 320th Street, the properties are adjacent to Fishers Pond Park, within two miles of the Federal Way Transit Center and a newly opened Link light rail station. Residents can easily access Interstate 5 and State Route 99, which offer convenient commutes to employment centers in Downtown Seattle, Tacoma, Kent Valley, and Bellevue.
Constructed in 1982 and 1985, respectively, The Ridge and The Shores have a unit mix of one-, two- and three-bedroom apartments that average 887 square feet. All units have washers and dryers, wood-burning fireplaces, and a private patio or deck with a storage closet. A clubhouse, leasing office, fitness center, outdoor pool, spa, and sundeck are located on the grounds of The Ridge.
“Operated as one community by long-term ownership, these two well-maintained multifamily assets give the buyer a blank-slate value-add opportunity,” said Philip Assouad, IPA senior managing director investments. Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of IPA represented the seller, Weidner Apartment Homes, and procured the buyer, Bridge Investment Group.
Located on over 20 acres off South 320th Street, the properties are adjacent to Fishers Pond Park, within two miles of the Federal Way Transit Center and a newly opened Link light rail station. Residents can easily access Interstate 5 and State Route 99, which offer convenient commutes to employment centers in Downtown Seattle, Tacoma, Kent Valley, and Bellevue.
Constructed in 1982 and 1985, respectively, The Ridge and The Shores have a unit mix of one-, two- and three-bedroom apartments that average 887 square feet. All units have washers and dryers, wood-burning fireplaces, and a private patio or deck with a storage closet. A clubhouse, leasing office, fitness center, outdoor pool, spa, and sundeck are located on the grounds of The Ridge.
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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 www.institutionalpropertyadvisors.com.