Starboard Realty Advisors Completes Sale of Community in Richland, WA for 145% Return to Investors
IRVINE, Calif., Jan. 27, 2022 -- Starboard Realty Advisors is pleased to announce the sale of Badger Mountain Ranch Apartments located in Richland, Washington - which occurred on December 14th, 2021. Phil Oester, Josh McDonald, and Joe Nydahl of CBRE represented Starboard in the transaction.
Located at 451 Westcliffe Blvd, this 14.94 acre property contains an ideal unit mix of 176, 1-bed, 2-bed, and 3-bed units in addition to state-of-the-art community amenities. In-unit amenities include stainless steel appliances, central air conditioning, washer/dryer, and 9-foot ceilings. Badger Mountain Ranch also offers an array of resident-first amenities including BBQ/fire pits, fitness center, carport/garage, pool/hot tub, and much more with mountain and green space views. At the date of sale, the property was 96.59% leased.
"We are happy to have successfully executed on our business plan and positioned the property for long term success while delivering strong returns to our investors" added Steve Carlton, Starboard's Chief Operating Officer.
Through the sale of this multifamily property, Starboard provided a 145% return to investors and the opportunity to engage in tax-deferred 1031 exchanges.
About Starboard Realty Advisors, LLC
Starboard Realty Advisors, LLC, headquartered in Irvine, California, acquires, manages, and operates multi-family, multi-tenant retail shopping centers and QSRs. Starboard is a privately held, fully integrated real estate firm, whose principals have more than 30 years of hands-on, cycle-tested experience in acquiring, developing, leasing, repositioning, managing, financing, and disposing of retail, multifamily, office and industrial real estate during which they have developed a network of relationships with brokers, sellers, retailers, and an array of other tenants.