30% IRR Joint Venture Equity Opportunity | Downtown Seattle Residential Development

January 6, 2019

As exclusive advisor to a veteran Seattle developer, we are seeking approximately $40 million of Joint Venture (JV) Equity to develop a 300 unit residential condominium in the ultra-hot downtown Seattle market.

 

Property Highlights

• The Sponsor owns the fully entitled site and is ready to break ground.

• The Investment is projected to yield over a 30% IRR and over a 2X Equity Multiple.

• Seattle is one of the best for sale residential markets in the country with nearby developments selling out within a few weeks’ time.

• The Project is ideally located in the heart of Seattle’s First Hill and Capitol Hill districts, two rapidly growing and dynamic neighborhoods.

• Unparalleled proximity to significant employment centers including:

• 3 Miles from Amazon’s Headquarters who’s currently constructing an additional tower for 66,000 employees.
• Facebook is expanding its footprint, allowing for 4,800 additional employees.
• Google is constructing a 600,000 SF campus by the waterfront by South Lake Union, which is right next to Capital Hill (Project’s location).
• The area is also home to other top corporations like Boeing and Microsoft, as well as other top employers like the many major medical facilities, military outposts and top universities.

• The Sponsor has been a long time builder in Seattle having developed a multitude of various residential projects in the area for over 30 years.

 

For more information, please contact:

Michael Campbell – CEO mjc@carltongroup.com (212) 716-5611

Steve Fenster – Managing Director sef@carltongroup.com (212) 716-5614

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