Institutional Property Advisors Brokers $25 Million Multifamily Asset Sale in Seattle Suburb
June 11, 2026
EVERETT, Wash., June 11, 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 Latitude, 108-unit multifamily property in the Lake Stickney neighborhood of Everett, Washington. The $25.35 million sales price equates to $234,722 per unit.
“This is a win for all parties involved,” said Giovanni Napoli, IPA executive managing director. “Our client is successfully exiting their investment after more than 10 years as a steward of the asset, and the buyer will be able to provide and preserve much-needed long- term affordable housing in the area.” Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of IPA represented the seller, Jackson Square Properties, and procured the buyer, Bridge Housing.
The property is less than one mile from Interstate 5 and two miles from the Interstate 5/Interstate 405 junction, a key intersection that gives commuters access to Seattle or Eastside cities such as Bothell, Redmond, Kirkland, and Bellevue. Boeing’s Everett facility is 1.5 miles away and there is a Swift transit bus stop near the property.
Completed in 1986 on over four acres, Latitude has six residential buildings, a central standalone clubhouse, a courtyard with a barbecue area and firepit, a fitness center, and a large fenced-in dog park. The unit mix is one- and two-bedroom apartments that range in size from 659 square feet to 891 square feet. Renovated apartments have full-size washers and dryers, wood-burning fireplaces, and a private deck or patio with a storage closet.
“This is a win for all parties involved,” said Giovanni Napoli, IPA executive managing director. “Our client is successfully exiting their investment after more than 10 years as a steward of the asset, and the buyer will be able to provide and preserve much-needed long- term affordable housing in the area.” Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero, and Anthony Palladino of IPA represented the seller, Jackson Square Properties, and procured the buyer, Bridge Housing.
The property is less than one mile from Interstate 5 and two miles from the Interstate 5/Interstate 405 junction, a key intersection that gives commuters access to Seattle or Eastside cities such as Bothell, Redmond, Kirkland, and Bellevue. Boeing’s Everett facility is 1.5 miles away and there is a Swift transit bus stop near the property.
Completed in 1986 on over four acres, Latitude has six residential buildings, a central standalone clubhouse, a courtyard with a barbecue area and firepit, a fitness center, and a large fenced-in dog park. The unit mix is one- and two-bedroom apartments that range in size from 659 square feet to 891 square feet. Renovated apartments have full-size washers and dryers, wood-burning fireplaces, and a private deck or patio with a storage closet.
# # #
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.