The Ardent at Mill Creek

JLL, as an exclusive advisor, is pleased to present the outstanding opportunity to acquire The Ardent at Mill Creek (“The Ardent”, the “Property” or “Subject”), a 570-unit community located in Mill Creek, WA.

Situated on nearly 34 sprawling acres, The Ardent at Mill Creek is a low-density, garden-style community in close proximity to major employers in Bothell and on the Eastside. Built between 1983 and 1985, the Property consists of 570 units spread out among 36 buildings complete with a host of well-maintained and recently renovated community amenities including two 24-hour fitness centers, an entertainment lounge with gaming, three sparkling swimming pools and a spa, playground and two dog parks, tennis and basketball court, and open-air courtyards with barbeques and fire pits.

In addition, the buyer will have the opportunity to renovate the Property’s 182 (32%) unrenovated units, bringing all apartments to market premium finish levels and enhancing upside potential for a future owner. Potential upgrades include luxury unit features designed to align The Ardent with the area’s newest apartment communities. Common areas have been recently updated, and the Property has been exceptionally well-maintained allowing a new owner to focus on revenue enhancement via unit upgrades.

New ownership will benefit from the strength of the Mill Creek submarket, which is driven by affluent residents, a strong school district, the high education levels of its residents,

accessibility to top-tier employment, as well as high barriers and institutional ownership in the submarket. Residents at The Ardent are proximate to major employment hubs on the Eastside, a highly regarded public school district, and the rapidly growing life science market in Bothell.