Nordic Partners
Belltown, on Western Ave between the Olympic Sculpture Park and Pike Place Market.
58 residential units plus one commercial space, targeting a 23% projected investor IRR.
The 23% is a projected investor IRR, net of the sponsor's promote, over a three-year hold, from Nordic's own underwriting. Not guaranteed.
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Ellis Court is about a 14-minute walk from South Lake Union. Nordic's Seattle team runs it from day one with its own management, leasing and pricing.
Elliott Bay sits just west of the building, and the Olympic Sculpture Park is a 6-minute walk. Nordic's underwriting projects a 1.86x net equity multiple over the three-year hold.
Most of what you own, you only see on a screen. Ellis Court is on Western Ave, a 12-minute walk from Pike Place Market. You can walk to it.
Nordic is buying at $325 a square foot, $166,102 a unit. The plan is to run it, not rebuild it: its own management, leasing and pricing from day one, with kitchen updates only as units turn over.
Nordic's principals are in Seattle and run the asset management and local execution themselves. Accredited investors can review the plan directly with them before committing anything.
6MINOlympic Sculpture Park
12MINPike Place Market
12MINThe Space Needle
14MINSouth Lake Union
Walking times from 2510 Western Ave, map-routed.
23%projected investor IRR, net of promote
1.86xprojected net equity multiple
$325a square foot to buy, $166,102 a unit
3 yearsplanned hold. 58 residential units plus one commercial space, built 1990
Seattle operators. Nordic controls its value chain: construction, property management, residential brokerage and landscaping.
Accredited investors only. The minimum is $50,000. No obligation. Four quick questions, then pick a time for a call.
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