PROJECTS

As we move forward with passion and dedication, we are excited about the projects that we bring to the community. Our steadfast approach to creating value and enhancing the urban landscape reinforces our position as a trusted leader in the real estate investment industry.

Park Hill - Seattle, WA

Compelling investment opportunity in the vibrant heart of Capitol Hill, Seattle. Most units will be vacant at closing, presenting a unique opportunity for swift renovations and significant value enhancement in one of Seattle’s most sought after neighborhoods

Acquired: June 2024

Asset Type: Multifamily

Units: 30

Projected IRR (5-year Hold): 18.28%

Projected Equity Multiple: 2.00x


Chaparral Boise - Boise, ID

52-unit investment opportunity with a proven value add renovation program in one of fastest growing cities in the country.

Acquired: June 2023

Asset Type: Multifamily

Units: 52

Projected IRR (5-year Hold): 15.80%

Projected Equity Multiple: 1.85x


Noreg Ballard - Seattle, WA

Value add opportunity in the heart of Ballard. At time of purchase, the units were dramatically below market rent, giving us the opportunity to increase revenue instantly.

Acquired: August 2020

Asset Type: Multifamily

Units: 17

Projected IRR (2-year Hold): 26.45%

Projected Equity Multiple: 1.60x


Belle Gardens - Tacoma, WA

Value add opportunity with a simple game plan to improve cosmetic appeal of units and building operations in the rapidly growing Tacoma submarket.

Acquired: May 2022

Asset Type: Multifamily

Units: 24

Projected IRR (5-year Hold): 17.77%

Projected Equity Multiple: 1.85x


Kent Station - Kent, WA

Light value add opportunity, ideally located just blocks away from popular Kent Station retail. Simple renovation game plan and the opportunity to greatly increase rents from dramatically below market rate.

Acquired: March 2022

Asset Type: Multifamily

Units: 21

Projected IRR (5-year Hold): 18.46%

Projected Equity Multiple: 1.83x


Valle Vista - Renton, WA

29-unit heavy value add opportunity located in the rapidly growing city of Renton. The property features large units with rare massive decks which were dramatically below market rates at time of purchase.

Acquired: January 2022

Asset Type: Multifamily

Units: 29

Projected IRR (5-year Hold): 21.28%

Projected Equity Multiple: 1.93x


Lilly Apartments - Sold June 2023

20-unit value add investment in Olympia, WA. Performed building upgrades including new electrical, new roof, and interior cosmetic upgrades to increase rents from 8%-10% below market rate at time of purchase.

Acquired: June 2021

Asset Type: Multifamily

Units: 20

Investor IRR: 19.25%

Equity Multiple: 1.45x

The Cove - Marysville, WA

Value add investment in Marysville/Arlington market. Upgrades increased rents from 15%-20% below market prior to renovation.

Acquired: March 2021

Refinanced: February 2022

Asset Type: Multifamily

Units: 20

Updated IRR (5-year Hold): 49.10%

Updated Equity Multiple: 2.69x

The Rex Building - Olympia, WA

24-unit, COVID distressed value add in Olympia, WA. Building upgrades included commercial TI improvements and cosmetic common area upgrades, along with interior upgrades including new cabinets/counters, light fixtures, and full unit paint.

Acquired: December 2020

Refinanced: April 2022

Asset Type: Multifamily

Units: 24

Updated IRR (5-year Hold): 36.61%

Updated Equity Multiple: 3.25x

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