Broadstone Savoie

JLL, as an exclusive advisor, is pleased to present the opportunity to acquire Broadstone Savoie (the “Property”), Bellevue’s newest mid-rise community, delivered in 2024 with top tier finishes and amenities throughout. Positioned at the doorstep of one of the nation’s most dynamic office markets — anchored by a growing Amazon presence, expanding AI companies, and a thriving innovation ecosystem — Broadstone Savoie draws a highly affluent renter profile and stands to benefit directly from the sustained employment growth reshaping Bellevue’s core.

As Downtown Bellevue’s newest apartment community, Broadstone Savoie 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 the submarket, with finishes and amenities that rival top-tier high-rise towers, delivered within the convenience and intimacy of boutique mid-rise living. Residents enjoy immediate walkability to Bellevue’s thriving retail, dining, and entertainment corridor, placing daily convenience and an active lifestyle just steps from home.

The Property sits at the center of Bellevue’s rapidly evolving office ecosystem, where accelerating AI demand and continued expansion from global technology leaders continue to reshape the market. Puget Sound now ranks as the nation’s second-largest AI talent market, trailing only the San Francisco Bay Area and ahead of New York, reinforcing the region’s ability to attract and retain next-generation employers. Recent leasing activity totaling 678K SF from tenants including Pokémon, OpenAI, Uber, and Databricks reflects this momentum, with tenant improvements underway or recently completed and move-ins projected through 2027. Amazon’s presence compounds the trend: of its 6.2M SF Bellevue footprint, 2.2M SF is under active build-out — underscoring the depth of employment growth the market has yet to fully absorb.

Directly across the street from Broadstone Savoie, the East Main light rail station puts Sound Transit’s Line 2 at the Property’s doorstep. The Bellevue-to-Redmond extension, opened April 2024, connects to Microsoft’s headquarters in roughly 10 minutes; the cross-lake extension to Seattle, completed March 2026, reaches downtown Seattle and South Lake Union — home to Amazon’s headquarters and one of the region’s densest employment corridors — in under 20 minutes. Combined with proximity to major thoroughfares, the Property offers a commuting profile few competing assets can match.

Anchored by proximity to major employers in Downtown Bellevue and steps from the East Main light rail station, the Property commands an affluent renter base with a median household income of $200K — driving a favorable rent-to-income ratio of just 18.7%.

Broadstone Savoie sits at the center of one of the Puget Sound’s most expensive single family home markets, with a median new construction home price of $3.45M in Bellevue. Despite attracting some of the highest household incomes in the nation, the gap between renting and owning remains substantial – renting at Broadstone Savoie represents an 85% discount to homeownership. This dynamic prolongs rentership and strengthens demand for high-quality rental housing among a deep pool of high-earning residents priced out of homeownership.

New ownership will benefit from the Property’s participation in the City of Bellevue’s Multifamily Tax Exemption (MFTE) program, administered through ARCH. In exchange for maintaining 20% of units at affordable levels (80% AMI), ownership pays abated real estate taxes through at least 2036, at which point the restricted units convert to market rate.