News
IMG Completes $15.85M Sale of Tacoma Multifamily Asset
Woodland Hills, CA – March 18, 2026 – Investors Management Group, Inc. (“IMG”) announced the sale of Valley Vista Apartments, a 108-unit multifamily community located at 6830 Tacoma Mall Boulevard in Tacoma, WA.
IMG acquired Valley Vista in October 2016 for $11.4 million, targeting the 1986-vintage property as a value-add opportunity. The investment strategy focused on driving upside through upgrades to units and community amenities, as well as making operating improvements. “Tacoma’s affordability relative to Seattle, combined with a central location for surrounding employment, made Valley Vista a compelling purchase,” said Kevin Crook, IMG’s Director of Business Development.
Valley Vista is ideally situated in South Tacoma adjacent to the Tacoma Mall, with convenient access to I-5 and Highway 512. The location gives residents access to a range of employment opportunities in the area, including Joint Base Lewis-McChord, Virginia Mason Franciscan Health System, MultiCare Health System, and the Port of Tacoma. Strong market fundamentals, including a vacancy rate around 7% and a shrinking construction pipeline, underscore the area’s desirability for renters and investors alike.
IMG’s business plan generated attractive investment results over a hold period of almost 10 years, culminating in a sale price of $15.85 million. Notably, a 2019 refinance returned 51% of original investor equity within three years of the acquisition. Overall returns included an 11.3% IRR, 1.8x equity multiple, and an 8.3% average annual cash-on-cash return. The property appreciated 39% in value over the hold period. The hold period extended beyond the original 5–7-year target due to the pandemic and subsequent timing for a market recovery.
IMG directed $2.5 million in capital expenditures during the hold. Notable improvements include a new exercise and community room, updated community deck, refreshed leasing office, new signage, conversion of the playground to a dog park, and ongoing site improvements. These upgrades enhanced the resident experience and strengthened the property’s competitive positioning in the submarket.
“Valley Vista is a strong example of disciplined investing,” said IMG Founder & CEO, Neil Schimmel. “We stayed the course through a challenging cycle, made meaningful improvements for our residents, and ultimately delivered solid returns for our investors.”
Since 2015, IMG has transacted over $170 million in the Seattle metro, achieving an average return of 23% IRR on sold properties.
About Investors Management Group
Founded by Neil Schimmel, IMG is a nationally acclaimed real estate investment and asset management firm highly specialized in apartment communities. Our mission is to create vibrant, sustainable living environments through strategic investments and a commitment to community development. With a network of over 1,000 accredited investors, we strive to enhance the quality of life for our 5,000+ tenants nationwide and support the growth of local neighborhoods. IMG’s culture is characterized by innovation and a steadfast commitment to creating value in multifamily investments. Learn more