PPC 2900 First Associates LLC provided $1.25MM in Sponsor Equity in an equity joint venture with Capmark.

		Opportunity to acquire a well-located, core-quality asset in one of Pacific's targeted submarkets in the Pacific Northwest with strong forecast rent growth.
		The strategy is to focus primarily on maintaining balanced physical occupancy and lease turnover exposure while increasing the rent stream.

		The Property is a seasoned Class A asset in an in-fill downtown Seattle area in which apartments rarely trade. The purchase of the Property encompasses a market recovery play based on the purchase of a newer, high-quality and well-located asset at favorable per unit and per SF pricing in a submarket forecast to produce significant near- and long-term revenue growth.
		Projected rent growth is very high going forward, averaging almost 5% over the next few years.