Acquired a Class A, mid-rise multifamily building with ground-floor grocery-anchored retail. Located in an urban neighborhood with high barriers to entry; Seattle’s Central District submarket is southeast of downtown with easy access to retail and downtown amenities. The asset provides the opportunity to gain exposure to a strong west coast market with population and job growth driving demand. The building participates in Seattle’s “MFTE” Program, which provides tax incentives in exchange for 20% of units designated as affordable. Given that the median home sales price within 5 miles of the property is $807,000 (~$3,488 monthly mortgage), the building’s relatively low rent, by comparison, is a major demand driver.