Nimbus

JLL, as an exclusive advisor, is pleased to present the outstanding opportunity to acquire a newly constructed institutional apartment community with luxury-grade features located in the North Seattle MSA.

Built in 2022, Nimbus (the “Property”, “Subject”, or “Nimbus”) consists of 165 studio, open 1-bedroom, 1-bedroom, and 2-bedroom units along with a host of exceptional community amenities including a top-of-the-line fitness room, fully-stocked arcade, cloud room with an entertaining kitchen, a rooftop lounge with views of the Cascade and Olympic mountains.

The Property is located within 5 minutes from Interstate-5, affording residents outstanding access to all major employers in Everett. Everett is anchored by major employers such as Boeing, which operates its largest manufacturing facility in the city, and Naval Station Everett, a key base for the U.S. Navy. These institutions drive the local economy, providing a strong employment base for the region. Additionally, the healthcare sector is significant with Providence Regional Medical Center and other medical centers offering employment opportunities in the healthcare industry. All of the area’s major employers can be reached within 15 minutes of Nimbus.

New ownership will also benefit from the Property’s participation in Everett’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 2034 with the option to apply to extend the exemption for an additional 12 years. Additionally, Everett’s MFTE program allows for the 20% requirement to be all studio units.