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112 Andover Park ETukwila, WA 98188
Holden Southcenter
Asset ClassSenior Housing
MSASeattle
# Units: 134Year Built: 2021Access Data Room
2021-Built Value-Add 134-Unit Assisted Living and Memory Care Community within In-Fill Seattle MSA
overview of deal

Overview

JLL Senior Housing Capital Markets (“JLL”) is pleased to exclusively offer Holden Southcenter (“Property,” “Community,” “Asset”) for sale or general partner recapitalization. Holden Southcenter is a 134-unit Class-A urban in-fill assisted living and memory care community located in the Seattle MSA within the Southcenter lifestyle center district of Tukwila, Washington. The brand new seven-story midrise Asset opened in the summer of July 2021 and features an exceptional amenity package with a modern aesthetic, including a gorgeous exhibition kitchen in the main dining room and a state-of-the-art fitness facility. Holden Southcenter is located directly adjacent to the largest shopping mall the Pacific Northwest, Westfield Southcenter, a Nordstrom anchored center with 1.7 million feet of retail space. The Property is conveniently located near the Interstate 5 and Interstate 405 interchange, allowing it to draw from a number of affluent submarkets in the South Seattle area, and is also less than four miles away Seattle-Tacoma Airport.

 

The Property is being offered without a formal asking price and free and clear of indebtedness and management. The sale is highly confidential and all communication regarding this opportunity should be directed to the JLL Senior Housing contacts listed below. No unauthorized attempts should be made to tour the properties or contact a member of ownership or management.

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Investment Highlights

  • 2021-Vintage Class-A Property with Robust Rent Growth
  • Dense Well-Amenitized Seattle Location
  • Deep Pool of Affluent Seniors & Adult Children
  • Substantial Upside Via Leasing & Operating Improvements
  • Attractive Real Estate Tax PILOT Agreement
  • Significant Discount to Replacement Cost
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112 Andover Park ETukwila, WA 98188
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Listing provided by Revere CRE