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February 21, 2018  

Luxury Rentals on Block in Tacoma

A luxury apartment building is up for grabs in Tacoma, Wash.The 173-unit Copperline, on the shore of Commencement Bay, is expected to fetch about $60 million, or $347,000/unit. At that valuation, the buyer’s initial annual yield would be 5%. HFF has the listing.The property, at 5005 Main Street, was developed in 2012 by MC Construction, a Ruston, Wash., developer led by Mike Cohen. It is part of Point Ruston, a 97-acre...

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