Description

JLL, as exclusive advisor, presents a generational opportunity to acquire Broadstone Strata (the “Property”), an irreplaceable 294-unit mid-rise community delivered in 2023 with best in-class finishes and amenities throughout. Anchoring the Property is its unmatched position within University Village, Seattle’s premier outdoor shopping and dining destination, placing residents in the heart of an experience no competing community can replicate. This is a rare chance to acquire a premium asset with unmatched proximity to high-end retailers. Close access to major employers, and rising home prices combine to draw a highly affluent renter base to support premium rents.

Delivered in 2023, Broadstone Strata offers institutional-quality real estate with thoughtfully designed unit interiors and a comprehensive amenity package. The Property sets the benchmark for upscale mid-rise living in Seattle, with finishes and amenities that rival top-tier high-rise towers, delivered within the convenience and intimacy of boutique mid-rise living.

Broadstone Strata sits directly within University Village, adjacent to Crate & Barrel — a position no other multifamily development could replicate. The 699K SF open-air lifestyle center is consistently 100% leased with 128 shops and restaurants, drawing affluent residents, UW faculty and staff, and Seattle’s tech workforce. For residents, that proximity functions as a built-in amenity — dining, shopping, and errands become an extension of the building itself.

The University of Washington sits at Broadstone Strata’s doorstep — Washington’s fifth-largest employer and a $21B annual economic engine that receives more federal research funding than any other U.S. public university. That research engine supports a graduate and professional student population of more than 16K, alongside a deep base of faculty and senior research staff — the population drawn to Broadstone Strata’s elevated positioning and finish level. Enrollment has surpassed 52K, up nearly 9% since 2019, fueling a U District where the residential population has grown 47% since 2010.

Within 15 minutes, Broadstone Strata reaches the region’s two most powerful employment centers. To the south, Downtown Seattle and South Lake Union are anchored by Amazon’s 12M+ SF headquarters and 50K+ employees, alongside Google, Apple, and Meta. To the east, Bellevue and Redmond have emerged as one of the country’s fastest-growing tech and AI corridors, with Microsoft, Google, Meta, Amazon, and a growing bench of AI-focused employers expanding their footprints. This dual exposure gives the Property access to two distinct, high-earning employment bases.

Anchored by proximity to major employers and the University of Washington, and embedded within University Village’s irreplaceable retail environment, the Property commands an affluent renter base with a median household income of $210K — driving a favorable rent-to- income ratio of just 19.5%.

Broadstone Strata borders one of the Puget Sound’s most expensive single-family enclaves, Laurelhurst, where median sales prices reach $2.1M. Despite some of the nation’s highest household incomes, the rent-to-own gap remains substantial — renting at Broadstone Strata represents over a 73% discount to homeownership, prolonging rentership and strengthening demand among high-earning residents priced out of ownership.

...