Link + Mural

JLL, as an exclusive advisor, is pleased to present the outstanding opportunity to acquire Link and Mural Apartments, two premier institutional-quality apartment communities in West Seattle’s Junction neighborhood.

Built in 2011 and 2009, Link and Mural (each, a "Property" and together, the “Properties”) are 195-unit and 136-unit midrise apartment communities, respectively, located in the consistently strong submarket of West Seattle, and proximate to a host of the largest employers in the region. Both properties participate in Seattle’s Multifamily Tax Exemption ("MFTE") program and consist of studio, open 1-bedroom, 1-bedroom, 1-bedroom plus den and 2-bedroom units along with a host of exceptional community amenities in each Property, including a 24- hour fitness center, rooftop deck lounge with panoramic views of the Seattle skyline, package lockers, 6 EV charging stations at each Property, and multiple BBQ stations. The approximately 22K square feet of retail space at Link and Mural is leased to a variety of strong tenants ranging from local restaurants to Bright Horizons daycare center (BB+ senior secure debt credit rating from S&P) with an extra parcel currently utilized as a children's playground just steps away (included in the offering).

A future owner is poised to benefit from revenue upside resulting from a package of concentrated property improvements. Potential upgrades include updated community amenities and high-tech, luxury unit features designed to further align Link and Mural with West Seattle’s newest apartment communities.

The convenient location within a 10-minute drive from downtown Seattle and South Lake Union as well as under 25 minutes from the Eastside gives residents easy access to the region’s major employers. Residents also stand to benefit from proximity to the future Alaska Junction Light Rail station, which is part of the planned 5-mile West Seattle Link Light Rail expansion opening in 2032. New ownership will also benefit from the Properties' participation in Seattle’s MFTE program. In exchange for maintaining 20% of units at affordable levels, ownership pays abated real estate taxes through 2035 and 2033 for Link and Mural, respectively. The Properties are located in a highly walkable neighborhood with ample retail, restaurants, and entertainment providing residents a modern urban lifestyle at a significant discount to Seattle’s downtown core rental housing markets.

Investors may submit offers on (1) a combination of both Link and Mural Apartments with allocated pricing for each, (2) Link Apartments only, or (3) Mural Apartments only.