The Huxley

JLL, as exclusive advisor, is pleased to present the opportunity to acquire The Huxley (the "Property"), a premier 119-unit, institutional-quality apartment community located in the heart of West Seattle located in the Heart of West Seattle, just steps from the West Seattle Junction along California Avenue. Completed in 2019, this 8-story midrise combines modern design, quality finishes, and attractive amenities in a desirable residential enclave that offers convenient access to major employment centers throughout the Seattle metropolitan area.

Acquiring Huxley presents a rare opportunity to assume highly accretive in-place debt at a 3.26% all-in rate extending through 2030. In today’s rate environment, this below-market financing creates an immediate and compelling yield advantage over alternatives.

West Seattle has seen no 75+ unit deliveries since 2021, creating an exceptionally supply-constrained environment that has driven outsized rent growth. This dynamic is evident in Huxley’s 9.16% gross new lease trade-outs year to date, a direct reflection of the submarket’s strong demand and limited competition. With nothing currently under construction in the submarket, the runway for continued explosive rent growth remains clear.

Huxley’s location provides residents with a 15-minute commute to Downtown Seattle, South Lake Union, and Fremont—home to the nation's leading tech and AI companies, life sciences organizations, and world-renowned hospitals. This includes Amazon's world headquarters, where nearly 50K employees occupy over 12M SF across South Lake Union and Downtown Seattle (6M+ SF owned), positioning Huxley to capture sustained demand driven by CEO Andy Jassy's January 2025 five-day return-to-office mandate.

Huxley offers convenient access to Microsoft's world headquarters in Redmond, Amazon's expanding 6.2M SF Bellevue campus, Meta's Reality Labs, and growing AI companies such as OpenAI—all within a 25-minute commute. Residents enjoy Seattle's vibrant urban atmosphere with immediate access to exceptional retail and entertainment, while maintaining quick access to Eastside employment centers, particularly Bellevue, where the office market has posted over 2M SF of recent absorption—the second-highest positive net absorption across all major markets behind only Hudson Yards.

Huxley is nestled in the heart of West Seattle, offering residents a rare combination of urban vibrancy and neighborhood tranquility. The areas thriving retail and entertainment scene, proximity to the bustling Junction corridor, and easy access to the waterfront at Alki Beach create a highly desirable lifestyle that consistently attracts and retains quality tenants.

New ownership will benefit from the Property’s participation in Seattle’s Multifamily Tax Exemption (“MFTE”) program. In exchange for maintaining 20% of units at affordable levels, ownership pays abated real estate taxes through at least 2031. In November 2025, the Seattle City Council approved MFTE Program 7 (P7), enabling properties with impending expirations to extend their tax exemption for an additional 12 years — positioning Huxley to extend its abatement through 2043.