$12 million apartments sold in Washington

Property comprises 93,000-plus square feet

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Marcus & Millichap arranged the sale of the Borgatta Apartments in Renton, Wash. The 83-unit community commanded a sales price of approximately $12.2 million. A developer based in Tacoma, Wash, sold the property to Borgatta LLC. Borgatta Apartments is located at 400 South 50th Street. The sale includes 93,720 rentable square feet on approximately 8 acres. The class A community was completed in 2002. The unit mix is made up of 24 one-bedroom, 17 two-bedroom and 39 three-bedroom apartment homes, which range in size from 850 to 1,325 square feet. Occupancy was 90 percent at the time of sale. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....