This post gives the details of an $8.1 million project-based capital investment deal in Issaquah, WA, between investor Presidio Residential Capital and Summit Homes, of Tukwila, Wa.
The two companies, who say they've partnered on 10 projects to build more than 300 homes in the Washington market, expect to close on the first homes in the deal this month, at prices ranging from $700,000 to $800,000, for two- and three-story single-family detached homes ranging from 2,800 to 3,300 square feet, with four to five bedrooms, two and a half to three baths and two- to three-car garages. Per the press statement:
"Copper Ridge is ideally located in an area that consistently holds its value because Issaquah is one of the most desirable places to live in the Northwest," said Tim Easter, vice president of sales and marketing for Summit Homes of Washington. "Issaquah experiences some of the highest appreciation rates in King County."