Dinius-Warsinske Multifamily Group Facilitates Lakewood-Area Apartment Asset Sale

LAKEWOOD, Wash., May 16, 2022 – Dinius-Warinske Multifamily Group, a team of Marcus & Millichap (NYSE: MMI), announced today the sale of Twin Oaks and Cottage Lane, a 48-unit apartment complex located in Lakewood, Washington. The property sold for $7,200,000.

“This couln’t have been a more mutually beneficial transaction.  The Seller was able to complete a 1031 exchange and the Buyer has able to secure real estate that he had his eye on for a long time.  I’m happy for both parties and looking forward to seeing their future progress.” said Sidney Warsinske, First Vice President. “I believe the Buyer plans to renovate the buildings in their entirety, so with that, will hopefully come a revitalization of this particular block in Lakewood.” Warsinske and the Dinius-Warsinske Multifamily Group’s Ryan Dinius facilitated the sale of Cottage Lane and Twin Oaks.

Twin Oaks and Cottage Lane is located next to the St. Clare Hospital – Emergency Room and steps away from the Lakewood Train station and Sounder Train-with easy access to most of the region. Lakewood Town Center is just over a mile away from Twin Oaks and Cottage Lane where one can find grocery stores, retail astablishments, banks, and restaurants.

Twin Oaks and Cottage Lane’s one-and two-bedroom apartment homes are in one- and two- story buildings. The average unit size is 650 square feet. Community amenities include ample parking, clean landscaping, walking distance to light rail, and near the St. Clare Hospital.