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News release

Demand for In-City Apartment Living in Seattle Continues to Soar

JLL arranges sale of Summit at Lake Union


SEATTLE, Nov. 4, 2015 – JLL’s Capital Markets experts today announced the sale of Summit at Lake Union, a 150-unit apartment community in the heart of Seattle’s South Lake Union neighborhood. Capital Valley Investments, a subsidiary of the Ezralow Company purchased the asset.  Capital Valley Investments now owns 1,200 units in the greater Seattle area, and self-manages under the name of First Pointe Property Management purchased the asset.
 
Managing Director David Young, Executive Vice President Corey Marx, Senior Vice President Seth Heikkila and Vice President Matt Kemper led the JLL team on the transaction.
 
“Summit at Lake Union was viewed as a compelling investment opportunity by the market,” Young said. “Combine South Union Lake’s large renter population and the ongoing demand for urban living, and the pieces are firmly in place for Summit at Lake Union to deliver a strong performance.”
 
Summit at Lake Union consists of three buildings and offers studio, one- and two-bedroom units. The average unit size is 732 square feet.
 
Amenities include updated kitchens and baths; stunning views of Lake Union, the Seattle skyline and Cascade Mountains; private balconies; on-site storage; and rooftop grilling areas. Summit at Lake Union also is on a six-mile-long trail that wraps around Lake Union and is within walking distance of the Burke Gilman Trail.
 
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
 
For more news, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world. For additional news, videos and research resources on JLL, please visit the firm's U.S. media center Web page.
 
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.