Demand. Constraint. Opportunity.
The Portfolio is Defined by Strong Fundamentals
Population and income growth, a structural housing shortage, and a shrinking development pipeline. As demand intensifies and new supply slows, the opportunity to invest in well-positioned real estate assets has never been more compelling.
POPULATION & EMPLOYMENT GROWTH
We serve structural demand by investing in high-quality housing where population growth, rising incomes, and long-term supply constraints converge—positioning our portfolio to benefit from durable, outsized demand.
Resilient Demand | Constrained Supply | Strategic Advantage
While the market recently experienced a surge in new housing deliveries, that cycle has peaked. Permit activity for multifamily and mixed-use developments has now fallen below pre-pandemic levels—signaling a future tightening in supply and creating upward pressure on rents.
Sustained Population | Employment Growth
King County continues to attract residents and employers alike. As population and job numbers climb, so does the underlying demand for housing across asset classes.
RISING MEDIAN HOUSEHOLD INCOME
Household income in the Seattle metro is growing at a rate that outpaces the national average. This dynamic supports rent growth, particularly for high-quality, market-rate units.
SHIFTING DEMOGRAPHICS | SMALLER HOUSEHOLDS
The average household size is shrinking, leading to an increase in total households even without population growth. This demographic trend intensifies demand for rental housing and urban infill development.
ENDURING HOUSEHOLD SHORTFALL
The region faces a persistent housing deficit. Based on long-term projections, the supply-demand imbalance is expected to extend well into the future, underpinning the value of existing and new housing stock.
NEWS & INSIGHTS
The Tightening Supply Chain
Regional Market Dynamics Favor More Housing Supply
While the market recently experienced a surge in new housing deliveries, that cycle has peaked. Permit activity for multifamily and mixed-use developments has now fallen below pre-pandemic levels—signaling a future tightening in supply and creating upward pressure on rents.
