Projects

Vivo & Brizo Developments - NEW OFFERING

This offering is an investment into both properties (to be divided on a prorated basis). The LLC is being formed to acquire the land, plans, permits and facilitate the construction of the properties located at 118 & 122 W Mercer Street and 100 Roy Street and 621 1st Ave W (The Queen Anne Assemblage), now known as ViVo Queen Anne Apartments, and The Bellevue Vistas, soon to be known as Brizo Bellevue Apartments, in Bellevue.

• Class A LEED Gold apartments
• Estimated Value $345,000,000 upon completion
• Estimated $110,000,000 in value creation
• Extraordinary Tax Benefits
• Ten Year IRR between 17% and 25%
• 4%+ Cash Flow Distribution
  

The Village at Westgate

New Construction | Completed May 2019 | $30 Million Valuation

• Class A, LEED Silver project consisting of 91 residential units plus three retail spaces delivered in 2019.
• Ideal location in Edmonds near the PCC flagship store, Bartell Drugs, QFC, and several cafes and restaurants.
• The Project was incredibly well received by the market, with all 91 residential units leasing up in less than four months with no concessions. The units remain full. Actual base residential revenue has surpassed the initial proforma by 10%.
• Constructed for less than $300,000 per unit. First Year Cash on Cash Return = 4%, with substantial tax benefits due to accelerated depreciation.
• Property taxes for all residential improvements are waived for the first 12 years of the project due to participation in Edmond’s Multifamily Tax Exemption program. 
  

Parque Kirkland

New Construction | Estimated Completion May 2021   $60 Million Valuation

• Construction of a Class A, LEED Gold project consisting of 70 residential units plus three retail spaces, anchored by Bartell Drugs, to be delivered in 2021.
• Exceptional location just steps from Kirkland Urban and the new Google offices in Kirkland, as well as the retail core of downtown Kirkland.
• Investors have no personal liability or exposure to cost overruns during construction due to unique partnership structure.
• Estimated 5%-10% after tax return, with substantial tax benefits due to accelerated depreciation.
  

Jonesco Business Park

92,952 square foot rectangular shaped parcel two blocks to the entrance to I-405, which includes three buildings consisting of approximately 40,823 SF of net rentable area

• Fantastic Close-in Kirkland Location
• High Barrier to Entry Product Type
• No New Construction of this Type of Property in Surrounding Area
• Low Vacancy Rate—Increasing Rents
• Tremendous Upside—Cash Flow and Appreciation