Recent apartment sale fetches highest price so far this year in Pierce County
An LA-based investment group has acquired a South Tacoma property in what appears to be the highest-priced multifamily property deal in Pierce County so far this year.
An LLC affiliated with Benedict Canyon Equities of Los Angeles acquired the Lodge at Madrona, 3202 S. Mason Ave., also listed as 4302 Center St., for close to $84 million.
Benedict Canyon Equities also has The Fairways, 4901 Fairwood Blvd. NE, Tacoma, in its portfolio.
The seller was an LLC affiliated with Goodman Real Estate of Seattle. The real estate entity has sold off several Pierce County properties in recent months.
The 24-building complex with 465 units is near The Home Depot on Center Street. The site was in the news in 2022 when a Thanksgiving night fire displaced more than 20 residents in one of the buildings.
Based on a review of multifamily apartment sales in the county for 2025, the deal, recorded July 14, is the highest-priced so far for the year.
The next largest sale was around $40 million. That sale also involved an LLC affiliated with Goodman Real Estate and its Altitude 104, a 230-unit apartment complex at 2201 104th St. S. in the Parkland area.
The sale was first reported Wednesday by the Puget Sound Business Journal.
