Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of an eight-acre horse ranch located at 27106 Old Owen Road in Monroe, Washington. Northmarq’s Asher Wenig represented the buyer, a Nevada-based private investor, in the 1031 exchange sale and negotiated a new lease with the tenant, Jordán Linstedt Eventing.
“This was a very captivating transaction. The client wanted to exchange into something they could be passionate about. The client, being an avid rider and well connected in the industry, set their eyes on a horse ranch,” said Wenig, Senior Director and Partner in Northmarq’s New York office. “We found an outstanding property and structured a very clean triple net lease with an experienced operator.”
The facility was built in 1960 and is situated on 8.12 acres about 30 miles northeast of Seattle. The property features indoor and outdoor arenas, pastures and pens for horse training, lessons, judging and clinics.