Aspira

JLL, as exclusive advisor, is pleased to present the opportunity to acquire Aspira (the "Property"), a 37-story tower in South Lake Union. Positioned at the doorstep of Amazon's world headquarters, Aspira features 326 units, over 17,000 SF of amenity space, and 6,394 square feet of 100% leased retail space. Built in 2010 and originally designed as condominiums, Aspira boasts central heating and A/C, large floor plans, and high 10–12-foot ceilings. With 97% of units remaining unrenovated, Aspira offers investors a significant value-add opportunity in one of Seattle's strongest submarkets.

Aspira offers institutional investors a rare value-add opportunity at the center of the Pacific Northwest's most concentrated employment hub, where only 10 of 326 units have been renovated to the current owner's scope — leaving substantial runway to capture the $1,000+ rent premiums achieved at nearby new-construction high-rises. The Property sits within a half-mile of 50,000+ Amazon employees and Amazon's 12M+ SF headquarters, alongside major Google, Meta, and life sciences footprints, with Amazon's five-day RTO mandate driving South Lake Union foot traffic back to 90.7% of 2019 levels, and 1,300 feet from the I-5 North entrance for a 15-minute commute to Microsoft's Redmond HQ and Amazon's Bellevue campus. This access has attracted a high-income professional renter base concentrated in tech, finance, and professional services, while renting at Aspira delivers a 60% discount to new-construction condo ownership and 65% discount to the $1.22M median single-family home within three miles. Originally designed for condominium ownership by LMN Architects, Aspira represents institutional acquisition of an irreplaceable, award-winning asset at a meaningful discount to replacement cost — compelling against the ~40% rise in Seattle MSA construction costs since 2020.