Consistent and reliable cash flow can provide a steady source of passive income for investors.
Over time, multifamily real estate has historically appreciated in value. As rents and construction costs escalate, so typically does the property value.
Even profitable properties can be deducted as a depreciation, significantly reducing tax liability. Other advantages include 1031 Like Kind Exchanges, where equity can be pulled out tax free.
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Multifamily real estate investing has a track record of long-term profitability. By diversifying beyond stocks and bonds, investors can reduce risk while achieving higher returns.
A typical apartment building is financed with 60-70% debt and 30-40% equity. Such reasonable levels of debt tend to enhance investor returns without dramatically increasing investment risk.
Rental rates and property values often increase with inflation – while the property’s debt does not. As interest rates rise, home affordability becomes more difficult, creating demand for apartment rentals.
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For a multitude of reasons, we continue to believe in the future of Seattle. The Seattle Metropolitan Area is home to approximately 4 million people – the largest in the United States and has consistently been among the fastest growing regional economies in the country. Over time, Seattle has proven itself to be one of the most creative and globally connected cities on Earth - and outpaced most all other metros in technology jobs.
Seattle is not only famous for its two homegrown tech giants, it also has the distinguished reputation as a thriving start-up hub. The city draws companies from around the world, tapping a massive talent pool of engineers, digital professionals and entrepreneurs. In addition to Microsoft and Amazon, Google, Apple and Meta all have campuses in Seattle. In addition to its strong base of technology firms, Seattle is home to many other successful companies including, Costco, Starbucks, Boeing, Nordstrom and Alaska Airlines. The city is quickly emerging as a top bio-tech hub with medical research companies such as UW Medicine, Fred Hutch and Seattle Cancer Care Alliance.
Seattle has seen explosive growth over the past decade. Between 2010 and 2020, the city was the fastest growing big city in the country, as the population increased 18.7% compared to the 6.6% overall U.S. growth rate. Though Seattle won’t likely grow this rapidly into the future, the city’s growth is expected to continue. According to the Puget Sound Regional Council, the Seattle metropolitan area is expected to add approximately 740,000 new jobs between 2020 and 2050, representing a 25% increase in total employment.
Seattle has established itself as one of our country’s best educated cities. Of the population over 25, 53% of Seattle residents hold a bachelor’s degree or higher (35% national average). Though much of the city’s talent immigrates for employment, the metro possesses 17 universities, including its largest, University of Washington.
One would be hard-pressed to find a more beautiful city than Seattle. The city is anchored on the shores of Puget Sound, with the Cascade Mountains to the east and the Olympic Mountains to the west. This amazing setting provides a dramatic backdrop to the city with breathtaking views as far as the eye can see. Seattle is consistently ranked as one of the best places to live in the United States, with a high quality of life, abundant outdoor recreation opportunities and a vibrant cultural scene.
Although Seattle has certainly experienced its share of political turbulence, our history has proven the city to be resilient. The city has many important attributes including a diverse economy, robust infrastructure, reputation for innovation and a strong tradition of community engagement. These key factors have helped Seattle withstand challenges and continue to grow.
Given Seattle’s stringent environmental regulations and complex topography, sourcing feasible development sites is challenging. This limited supply enhances long term potential appreciation of real estate assets.
Over the past two decades, Seattle has become one of our country’s premier gateway cities, playing an important role in connecting people and businesses across various regions and continents. We are a major transportation hub for the Pacific Northwest, with a large international airport and a busy seaport which serves as a gateway for trade with Asia and other parts of the world.
“Inventors and founders in Seattle and the Pacific Northwest are fueling the economic success of our region and beyond. While it is increasingly possible for companies to be built anywhere, few places have access to talent, understanding of market problems and the ability to build emerging solutions like greater Seattle. The Seattle Mindset, combining curiosity, iteration and agility, has proven to build some of the most innovative and valuable companies in the world.”
— Matt McIlwain,
Managing Director at Madrona Venture Group
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Our seasoned team has a strong track record of designing and executing successful projects. Since 2003, we have progressively assembled a high-performance team of architects, engineers, attorneys, consultants and property managers to create extraordinary properties. By investing in great locations, designing exceptional buildings and maintaining a long-term time horizon, we have proven we can weather the inevitable storms and create excellent returns – benefiting our investors and our community.
The past 20+ years have produced steady, incremental success for our company and our investors. Through the good markets and bad (even the Great Recession) we have maintained a long-term outlook, always keeping our eyes on the horizon.
Unlike many real estate investors and developers, we stick to what we know best. We focus our attention on Seattle – not multiple cities and states. We know our local neighborhoods, transportation routes, zoning regulations, building codes, city planners and building inspectors. We understand how to maximize value in the City of Seattle.
We are not a fund. Each development project has a unique group of investors – some invest their land and others invest cash. Our team maintains regular and transparent communication with each of our partners on each individual property. We reliably update them as we move through project development to an income-producing property.
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Within each project we invest, we work hard to improve the neighborhood and our natural environment. From cleaning I-5 runoff in Eastlake to building the city’s first net-zero Living Building in Fremont – we are making our city a better place to live.
As developer and General Partner, we believe in directly aligning our interests with those of our investors. We maintain significant “skin-in-the-game” by substantially co-investing side-by-side with our investor partners.
We are not a large institutional company. We focus on only a few projects at a time – each at a different stage in the development process. We act quickly and decisively, devoting our attention to each important detail.
We focus on projects which are typically too large for most individual investors, yet too small for institutional investors. This enables us to purchase land and develop projects at a lower cost/unit basis because we don’t need to compete with the big players.
As a Limited Partner (LP), each of our investor’s downside risk is limited to their investment, while receiving a significant portion of the upside. As the General Partner (GP), Eastlake RE takes on all required debt guarantee risk.
