ROYAL VIEW APARTMENTS200 MILTON WAY, MILTON, WA 98354 CONTACT INFORMATION:

STEVE FISCHERSTEVE FISCHERPRINCIPAL BROKER

206.505.9435fischer@westlakeassociates.com

TTYLER SMITHYLER SMITHPRINCIPAL BROKER

206.505.9425tylersmith@westlakeassociates.com

JOE KJOE KINKINKOPFOPFBROKER

206.321.8344joek@westlakeassociates.com

Price: $3,000,000

Price Per Unit: $187,500

Price Per NRSF: $182.82

Cap Rate: 6.37%

Market Cap Rate: 7.11 %

GRM: 7.30

Building Size: 17,908 SF

Lot Size: 3.09 Acres

Year Built: 1984

Year Renovated: 2017

WESTLAKE ASSOCIATES IS PROUD TO PRESENT A 16 UNITVALUE ADD OPPORTUNITY IN MILTON, WA.

Originally built in 1984 and substantially renovated in the last couple of years, the Royal ViewApartments is a 16-unit under managed apartment building in Milton, WA. The building consistsof large two and three bedroom units with an average unit size of 1,025 SF. All of of the unitshave their own private garages with a total of 17 garages onsite. 10 of the 16 units have beenrenovated, giving the new owner the opportunity to further improve the asset and pushcashflow. With renovation of the 6 remaining units, new ownership could push rents on averageof $227 per unit to get to proven current renovated rents. If new ownership chooses to notpursue further renovations; there is loss of lease of $775 per month, with some units being asmuch as $155 below current market. Additionally, there is a clear path to reduce utility cost withthe implementation of utility metering system. Trailing 12 months utility cost were $33,646,while pass through utility recovery is currently budgeted at $1,410 per Month ($88 per unit) or$16,920 annually. Projected utility metering along with continued pass through of garbagebilling could achieve as much as 95% utility recovery which could boost NOI an estimated$12,000 - $14,000 per year.

200 Milton Way, Milton, WA 98354

ADDRESSADDRESS

PROPERTPROPERTY HIGHLIGHTSY HIGHLIGHTSSTSTABILIZED ASSET WABILIZED ASSET WITH GREAITH GREAT CASH FLT CASH FLOOW AW AT CLT CLOSINGOSING

110 OF 16 UNITS HA0 OF 16 UNITS HAVE BEEN RENOVE BEEN RENOVVAATEDTED

ABILITABILITYY TTOO RENORENOVVAATETE REMAININGREMAINING UNITSUNITS WWITHITH EXISTINGEXISTING UNITSUNITS ASAS MUCHMUCH ASAS $300$300 BELBELOOWWRENORENOVVAATED RENTTED RENT

IN PLIN PLAACE 6.37% CAP RACE 6.37% CAP RATE WTE WITH PROFESSIONAL MANAITH PROFESSIONAL MANAGEMENTGEMENT

PERFEPERFECTLCTLYY SITUSITUAATEDTED TTOO INSTINSTALLALL WWAATERTER METERMETER ANDAND INCREASEINCREASE UTILITUTILITYY PPASSASS THROUGHTHROUGH TTOOTENANTSTENANTS

WWAATER METERING POTER METERING POTENTIALLTENTIALLY ESTIMAY ESTIMATED TTED TO CUT OPERAO CUT OPERATING EXPENSES BTING EXPENSES BY OY OVER 1VER 10%0%

$12,$12,000000 -- $14,$14,000000 POPOTENTIALTENTIAL NOINOI BOOSTBOOST WWITHITH WWAATERTER METERMETER INSTINSTALLALL -- $233,333$233,333 POPOTENTIALTENTIAL VVALALUEUEADDADD

ALL UNITS ARE 2 BEDROOM OR 3 BEDROOMS (TALL UNITS ARE 2 BEDROOM OR 3 BEDROOMS (TOOTTAL OF 34 BEDROOMS)AL OF 34 BEDROOMS)

17 PRIV17 PRIVAATE GARATE GARAGE SPGE SPAACESCES

WWASHER AND DRYER IN EVERY UNITASHER AND DRYER IN EVERY UNIT

FIREPLFIREPLAACES, OPEN KCES, OPEN KITITCHENS AND WCHENS AND WALK IN CLALK IN CLOSETSOSETS

CCOPPER PLOPPER PLUMBING / WUMBING / WIRING / DOUBLE PIRING / DOUBLE PANE WANE WINDOINDOWSWS

CLCLOSE PROOSE PROXIMITXIMITY TY TO INTERSTO INTERSTAATE 5 - EASY ATE 5 - EASY ACCCESS NORTH OR SOUTHCESS NORTH OR SOUTH

CLCLOSE PROOSE PROXIMITXIMITY TY TO FUTURE SOUND TRANSIT LIGHT RAIL LINESO FUTURE SOUND TRANSIT LIGHT RAIL LINES

FEDERALFEDERAL WWAAYY LIGHTLIGHT RAILRAIL LINELINE CCOMPLETEDOMPLETED BBYY 20202244 (BL(BLOCKSOCKS FROMFROM PROPOSEDPROPOSED TTAACCOMAOMAEXTENSION STEXTENSION STAATIONS)TIONS)

OFFERING SUMMARY

SALE PRICESALE PRICE $3,$3,000,000,000000

LLOCAOCATION INFORMATION INFORMATIONTION

Building Name Royal View Apartments

Street Address 200 Milton Way

City, State, Zip Milton, WA 98354

County/Township Pierce

Market Puyallup MF

Submarket Outlying Puyallup MF

Cross Streets Milton Way and 20th Street E

Side Of Street East

Nearest Highway Interstate 5 - 1/2 mile

Nearest Airport Sea-Tac - 21 miles

BUILDING INFORMABUILDING INFORMATIONTION

Building Size 17,908 SF

Occupancy % 95.0%

Number Of Floors 3

Year Built 1984

Last Renovated 2017

Gross Leasable Area 16,410 SF

Framing Wood

Condition Good

Roof Tile

Number Of Buildings 4

PROPERTPROPERTY DETY DETAILSAILS

Property Type Multifamily

Property Subtype Low-Rise/Garden

Zoning RM

Lot Size 3.09 Acres

APN# 0420086007

Submarket Outlying Puyallup MF

Traffic Count 10,590

Traffic Count Street Milton Way

PPARKARKING & TRANSPORTING & TRANSPORTAATIONTION

Street Parking Yes

Parking Type Structure

Number Of Spaces 42

Parking Description 50 total stalls with 17 private garages

UTILITIES & AMENITIESUTILITIES & AMENITIES

Restrooms 20

Landscaping Garden style with asphalt parking

Power Yes

Plumbing Description Copper

Exterior Description Wood material

Interior Description

Utilities Description Not sub metered for water

PROPERTY DETAILS

Number of Units 16

Year Constructed 1984

Remodel 2017

Rentable SF 16,410 SF

Lot Size 3.09 Acres

Zoning RM

Exterior Wood material

Sale Price $3,000,000

Price per Unit $187,500

Price per NRSF $167.52

Price per Land SF $22.29

Current Cap 6.37%

Current GRM 9.70

Market Cap 7.11%

Market GRM 8.84

Loan Amount $1,938,000

Down Payment $1,062,000

Rate 4.750%

% Down 35.4%

Amortization 30

Term 5 Years

Monthly Payment $10,109

Annual Payment $121,314

PROPERTY OVERVIEW

PRICE ANALYSIS

FINANCING

# OF UNITS UNIT TYPE AVG SIZE CURRENT PSF PRO FORMA PSF

12 2/1 975 $1,405 $1.44 $1,465 $1.50

2 2/2 975 $1,620 $1.66 $1,645 $1.69

2 3/2 1,380 $1,822 $1.32 $1,825 $1.32

Total | AVG $23,744 $1.45 $24,520 $1.49

CURRENT PROFORMA

Scheduled Rent Income $284,940 $294,240

+ Other Income $4,956 $4,956

+ Utility Bill Back $16,920 $28,800

+ Pet Rent $1,200 $1,800

+ Parking Income $1,200 $9,600

Scheduled Gross Income $284,$284,928928 $339,396$339,396

- Vacancy & Cr Losses (5.00%) $15,460 $16,969

Gross Income $293,755 $322,426

CURRENT PER UNIT PROFORMA PER UNIT

Real Estate Taxes (2018) $23,154 $1,447 $28,500 $1,781

Insurance (2016) $5,000 $312 $5,000 $312

Utilities W/S/G/E $33,646 $2,102 $33,646 $2,102

Management $13,219 $826 $14,509 $906

Resident Manager $6,000 $375 $6,000 $375

Maintenance / Turnover $12,800 $800 $12,800 $800

Grounds $4,800 $300 $4,800 $300

Reserves $4,000 $250 $4,000 $250

Total Operating Expenses $102,619 $6,4$6,41313 $109,255 $6,$6,828828

Net Operating Income $191,136 $11,$11,946946 $213,171 $13,323$13,323

Less Annual Debt Service ($121,314) ($7,582) ($121,314) ($7,582)

Cash Before Taxes $69,822 $4,363 $91,857 $5,741

Plus Principal Reduction $29,905.00 $1,869.06 $29,905.00 $1,869.06

Total Return Before Taxes $99,727.20 $6,232.95 $121,762.20 $7,610.14

INCOME

EXPENSES

FINANCIAL OFFERING

The statements, figures & computations herein, while notguaranteed, are secured from sources we believe reliable. Investorsshould verify all numbers, computations, and assumptions beforecommitting to an investment.

INVESTINVESTMENT OMENT OVERVIEWVERVIEW CURRENTCURRENT MARKMARKETET

Price $3,000,000 $3,000,000Price per Unit $187,500 $187,500CAP Rate 6.37% 7.11%GRM 9.70 8.84Cash-on-Cash Return (yr 1) 6.57% 8.65%Total Return (yr 1) $99,727 $121,762Debt Coverage Ratio 1.58 1.76

OPERAOPERATING DTING DAATTAA CURRENTCURRENT MARKMARKETET

Gross Scheduled Income $309,210 $339,396Other Income $24,276 $45,156Total Scheduled Income $309,210 $339,396Vacancy Cost $15,460 $16,969Gross Income $293,755 $322,426Operating Expenses $102,619 $109,255Net Operating Income $191,136 $213,171Pre-Tax Cash Flow $69,822 $91,857

FINANCING DFINANCING DAATTAA CURRENTCURRENT MARKMARKETET

Down Payment $1,062,000 $1,062,000Loan Amount $1,938,000 $1,938,000Debt Service $121,314 $121,314Debt Service Monthly $10,109 $10,109

FINANCIAL SUMMARY

TThe statemenhe statements, figurts, figures & computations heres & computations herein, while not guaranein, while not guaranteed, arteed, are secure secured fred fromomsoursources we believe rces we believe reliable. Ieliable. Innvestors should verify all numbers, computations, andvestors should verify all numbers, computations, andassumptions beforassumptions before committing to an ine committing to an investmenvestment.t.

UNITSBEDROOM/

BATHSIZE RENT PSF MARKET

RENTMARKET RENT

PSF

200-A 3 x 2 1,380 $1,750 $1.27 $1,825 $1.32

200-B 2 x 1 975 $1,345 $1.38 $1,465 $1.50

200-C 3 x 2 1,380 $1,895 $1.37 $1,825 $1.32

200-D 2 x 1 975 $1,250 $1.28 $1,465 $1.50

202-E 2 x 1 975 $1,295 $1.33 $1,465 $1.50

202-F 2 x 2 975 $1,595 $1.64 $1,645 $1.69

202-G 2 x 1 975 $1,295 $1.33 $1,465 $1.50

202-H 2 x 2 975 $1,645 $1.69 $1,645 $1.69

204-1 2 x 1 975 $1,550 $1.59 $1,465 $1.50

204-2 2 x 1 975 $1,495 $1.53 $1,465 $1.50

204-3 2 x 1 975 $1,395 $1.43 $1,465 $1.50

204-4 2 x 1 975 $1,550 $1.59 $1,465 $1.50

206-5 2 x 1 975 $1,395 $1.43 $1,465 $1.50

206-6 2 x 1 975 $1,550 $1.59 $1,465 $1.50

206-7 2 x 1 975 $1,395 $1.43 $1,465 $1.50

206-8 2 x 1 975 $1,345 $1.38 $1,465 $1.50

1616 16,416,41100 $23,7$23,74545 $1.45$1.45 $2$24,5204,520 $1.50$1.50

AAveragesverages 1,1,002525 $1,484$1,484 $1.45$1.45 $1,532$1,532 $1.50$1.50

RENT ROLL

Royal View Apartments

LOCATION MAPS

INTERIOR PHOTOS

INTERIOR PHOTOS

INTERIOR PHOTOS

EXTERIOR PHOTOS

WESTLAKE ASSOCIATES, INC

The Sound Transit 3 Plan:

• Adds 62 NEW MILES OF LIGHT RAIL withstations serving 37 additional areas for aregional system reaching 116 miles.

• Establishes BRT on I-405/SR-518 andSR-522/NE 145th.

• Expands capacity and service of theSounder south rail line.

• Includes ST Express bus service.

• Improves access to stations for bicyclists,pedestrians, drivers, and pick-up anddrop-off services, and expands parking atstations.

SOUND TRANSIT 2 OVERVIEW

SR 516

S 320TH STREET

S 272ND STREET

54TH AVENUE E

PORTLAND AVENUE E

SR 161

SR 18

SR 99

I-5

I-5

South 272nd

Federal Way Transit Center

South Federal Way

FifeEast TacomaTacomaDome

LENGTH (MILES) 15

REGIONAL LIGHT RAIL SPINE YES

RIDERSHIP (DAILY PROJECT RIDERS) 44,000—60,000

CAPITAL COST (2014 $ M) $2,856—$3,055

ANNUAL O&M COST (2014 $ M) $33

TRAVEL TIME (MIN) 27

RELIABILITY HIGH

SYSTEM INTEGRATION MEDIUM

EASE OF NON-MOTORIZED ACCESS MEDIUM-LOW

PERCENT OF NON-MOTORIZED ACCESS 20—35%

CONNECTION TO PSRC-DESIGNATED REGIONAL CENTERS 3 CENTERS

LAND USE ANDDEVELOPMENT/TOD POTENTIAL

PLANS AND POLICIES MEDIUM

MARKET SUPPORT MEDIUM-LOW

ACTIVITYUNITS

POP PER ACRE (2014/2040) 4 / 6

EMP PER ACRE (2014/2040) 4 / 6

POP+EMP PER ACRE (2014/2040) 8 / 13

SOCIOECONOMICBENEFITS

MINORITY/LOW-INCOME 52% / 20%

POPULATION (2014/2040) 12,200 / 18,500

EMPLOYMENT (2014/2040) 11,400 / 18,300

AT GRADE

LIGHT RAIL SOUND MOVE/ST2

SOUND MOVE/ST2 STATION

STATION AREAELEVATED

MAP KEY

For additional information on evaluation measures, see http://soundtransit3.org/document-libraryDate Last Modified: 07-21-2016

AT GRADE

LIGHT RAIL SOUND MOVE/ST2

SOUND MOVE/ST2 STATION

STATION AREAELEVATED

MAP KEY

Click Here for More About theKent/Des Moines to Tacoma Light Rail

N ORCHARD STREET

S JACKSON AVENUE

S 19TH STREET

I5

I5

SR 16

SR 16

SR 509

I705

HilltopSprague

UnionStevens

PearlTacoma Community College

Fly Over the Federal Way

WESTLAKE ASSOCIATES, INC

Click Here for More About the Tacoma Link Extension to Tacoma Community

KEY

Current

Planned ST3

New StationNew Station / Added ParkingImproved StationMajor Retail Transfer

SOUND TRANSIT 3 | LINK LIGHT RAIL PROJECTS

S 56TH STREET

100TH STREET SW

150TH STREET SW

BERKELEY STREET SW

41ST DIVISION DRIVE

DUPONTSTEILACOOM ROAD

S 74TH STREET

SR 512

I-5

Tillicum

DuPont

WESTLAKE ASSOCIATES, INC

Click Here for More About the SounderExpansion to DuPont

KEY

Current

Planned ST3

New Station / Added ParkingImproved Station

SOUND TRANSIT 3 | COMMUTER RAIL PROJECTS

WESTLAKE ASSOCIATES, INC

KEY

Current ST Express Buss

Planned ST3

New StationNew Station / Added ParkingImproved StationMajor Retail Transfer

SR 5

20

I90

MAPLE VALLEY HWYI5

SR 167

SR 522

SR 5

09

SR 527

I5

Lynnwood TC

Canyon Park

UW Bothell/NE 195th

Brickyard

Totem Lake/Kingsgate

Bellevue TC

SouthRenton

NE 44th St Renton

Burien TC

Tukwila Intl Blvd

NE 85th St Kirkland

BRT STATION

MAP KEY

EXISTING FACILITY

Click Here for More About the I-405Bus Rapid Transit

SOUND TRANSIT 3 | BUS RAPID TRANSIT

WESTLAKE ASSOCIATES, INC

Milton Way

24th St E

36th St E

48th St E

20th St E

N M

eridian A

Valley Ave E

Taylor Way

5

5

509

167

167

161

161

99

1

2

4

3

5

1

Futuer SoundTransit Station

READ THE FULL ARTICLE HERE

First Construction Step on SR-167 Extension to Start Next Year

TOLLING SR 167

All lanes on the new portion of SR-167 will be tolled using two electronic toll points. There will be no tollbooths. Toll rates will be set by time of day – more during peak periods and less during mid-day, evenings and weekends. Toll rates for the new portion of SR-167 have not been determined. A toll authorization bill must be passed by the Legislature before tolling begins. $95 million from tolls will be used to construct the SR-167 Completion project. The Washington State Transportation Commission would then oversee the rate-setting process. The rate-setting process will begin closer to when the project is completed.

WORKING WITH SOUND TRANSIT

WSDOT is working closely with Sound Transit on the Tacoma Dome Link Extension project as both agencies work to build new major infrastructure projects in the area.

RIPARIAN RESTORATION PROGRAM (RRP)

The RRP is a watershed strategy for stormwater management that will use an innovative approach to conventional flow control facilities. It will reduce flood levels, improve degraded stream and riparian corridor habitat, and provide benefits to fish and wildlife.

DIVERGING DIAMOND INTERCHANGE (DDI)

Through this project, WSDOT will implement the state’s second Diverging Diamond Interchange. The DDI will function as an on and off ramp to I-5. The unique design will improve traffic safety by decreasing the amount of conflict points throughout the interchange.

SINGLE POINT URBAN INTERCHANGE (SPUI)

A single point urban Interchange, known as a SPUI, is planned to be constructed at the new interchange between SR-167 and SR-161. These interchanges are efficient and only utilize one traffic signal to control all the movements at the interchange.

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Subject Property

Future

SR-167 EXPANSION

LOCATION

PIERCE COUNTY IN THE NEWS

“If you’re looking for a single-bedroom apartment in Tacoma, get ready to pay up. Rents for single-bedroom apartments have risen faster than the market as a whole, according to Seattle-based real estate data firm Zillow...”

Tacoma apartment rents see steep rise in 2016, data show.

THE NEWS TRIBUNE

CLICK HERE FOR FULL ARTICLE

CLICK HERE FOR FULL ARTICLE

We’re growing faster than King County - and our rents prove it.

THE NEWS TRIBUNE

“...Tacoma is tied for No. 6 in the nation for highest year-over-year rent increase...”

CLICK HERE FOR FULL ARTICLE

Tacoma rent is rising faster than Seattle rent.

CURBED SEATTLE

“Apartment List (AL)’s latest numbers show the city of Tacoma’s median rent as having a 7.4 percent increase since this time last year, with $1,230 for a one-bedroom or $1,530 for a two-bedroom—the former just $150 per month behind Seattle’s.”

“We had to go to work finding her a place to live. It’s a tough situation. People want to capitalize on the investment they made. That’s why they made it. But then… ”

In a hot market, life can get hard fast when your home is someone else’s investment.

THE NEWS TRIBUNE

CLICK HERE FOR FULL ARTICLE

Apartments go fast in Tacoma - why you probably can’t evenfind one online.

THE NEWS TRIBUNE

“...Nearly 200 people per day moved to Pierce, King, Kitsap and Snohomish counties from mid-2013 through mid-2017, state and Census data show. That’s about 285,900 people total. At the same time, only 82,521 housing units were built in those areas.”

CLICK HERE FOR FULL ARTICLE

“The light rail extension from Federal Way to Tacoma is on track to begin with public involvement on alignment alternatives early next year. Establishing early community consensus on route and station locations will be important to staying on time.”

Sound Transit steady-as-she-goes on Tacoma light rail plans, CEO says.

THE NEWS TRIBUNE

CLICK HERE FOR FULL ARTICLE

LOCATION

PIERCE COUNTY IN THE NEWS CONTINUED

“Tacoma’s resulting double-digit rent increases have landed the City of Destiny on the latest ignoble list: Cities in the nation with the highest year-over-year rent increases.The list compiled by RentCafe places Tacoma fourth in the nation for the highest percentage rent increase. The top five include the California communities of Stockton, Modesto and Sacramento. Lancaster, California, in northern Los Angeles County, was at the top of the list.”

Thanks again, Seattle: Tacoma’s rising rents, affordability takes hits in new lists.

THE NEWS TRIBUNE

CLICK HERE FOR FULL ARTICLE

CLICK HERE FOR FULL ARTICLE

“By the end of 2016, Gig Harbor had 6 percent more residents than the year before, according to data compiled by the Puget Sound Regional Council. That’s 510 more residents, according to the report, which uses information from the state Office of Financial Management. Tacoma attracted the most new residents of any city in Pierce County. Last year, the city gained 3,800 more people, bringing the city’s population to around 206,100 residents. That’s a growth rate of nearly 2 percent, the regional council’s report said.”

Feeling more crowded in Gig Harbor or Tacoma? Growth numbers agree.

THE NEWS TRIBUNE

CLICK HERE FOR FULL ARTICLE

“Ranking third, Tacoma’s 98403 registered a median sale price of $439,500. Tacoma’s 98407 has the largest residential transaction in Pierce County so far- the property at 4501 North Stevens Street changed hands in late September 2017 for $5,356,666.Here are some more highlights from the Property Shark study:- Fox Island’s 98333 is #1 most expensive zip code in Pierce County, and is the only PierceCounty zip code featured in the top 50 priciest zips in Washington state- Tacoma has two more zip codes in the top 10, 98422 and 98407, ranking 6th and 10threspectively.”

Housing market reports - Tacoma has one of the fastest growing rents in State.

TACOMA DAILY INDEX

PUGET SOUNDSet in the beautiful Pacific Northwest, the greater Seattle area is a national center for manufacturing, technology, services, international trade and tourism.

MAJOR EMPLOYERS

Today some of the world’s most recognizable Fortune 500 companies call Seattle home: Microsoft, Starbucks, Amazon, Nordstrom, Costco and REI. Other major companies in the area include Boeing, T-Mobile. Expedia, F5 Networks and Nintendo of America.

According to the Puget Sound Business Journal, technology companies are leading the way in employment growth in the Seattle MSA. As the home of Microsoft and Amazon, Seattle accounts for over 20% of the nation’s software publishing employment. Microsoft is one of the top employers in the sate with over 42,000 employees. Their World Headquarters, located in Redmond is over 10 million square feet.

The Puget Sound has become a international leader in innovative industries with organizations such as the Fred Hutchinson Cancer Research Center, the University of Washington Medical Center and the Bill and Melinda Gates foundation. Healthcare employment is projected to continue to grow dramatically and Seattle has the 5th largest biotechnology Research and Development alliance between the University of Washington and the Fred Hutchinson Cancer Research Center.

The Puget Sound is one of the capitals of the aerospace industry anchored by Boeing, the world’s largest aerospace company, second-

largest maker of large commercial jets, and second largest global defense contractor. Boeing is one of the largest employers in the Puget Sound, employing approximately 80,000 in Washington.

Employment is expanding through the greater Seattle area. The Puget Sound region is projected to generate 1.2 million new jobs by 2040.

INTERNATIONAL TRADE

Seattle has remained one of the most resilient cities due to its diverse industries, making it more attractive for new companies to relocate and expand in the area. The Port of Seattle, which also operates the Seattle-Tacoma International Airport, is a major gateway to Asia and cruises to Alaska. The Port of Seattle ranks as the 6th business seaport in the US, playing a key role in bringing international trade, transportation and travel to the Pacific Northwest.

RECREATION

The region is known for its quality of life, arts, and outdoor lifestyle which helps attract an educated workforce. Numerous camping, hiking, winter sports, and recreational activities are located a short drive from the city. Seattle’s main attractions include Pike Place Market, the Space Needle, and Seattle Center, home of the 1962 World’s Fair. Seattle is home to a number of professional sports teams including the 2013 Super Bowl champions, the Seattle Seahawks, the Seattle Mariners, and the Seattle Sounders FC soccer team.

PUGET SOUND LARGEST EMPLOYERS

80,000Employees

JOINT BASE LEWIS-MCCHORD

56,000Employees

42,000Employees

25,000Employees

40,000Employees

20,000Employees

10,000Employees

15,000Employees

13,000Employees

20,000Employees

PUGET SOUND SUMMARY

STEVE FISCHER JOE KINKOPFTYLER SMITH

Principal Broker BrokerPrincipal Broker

PROFESSIONAL BACKGROUND PROFESSIONAL BACKGROUNDPROFESSIONAL BACKGROUNDA lifetime resident of the Seattle area, Steve graduated from the University of Washington with a degree in Economics. Beginning his real estate career as an analyst, his work ethic quickly tran-sitioned from analyst to full time apartment broker. Since the inception of his brokerage career, Steve has successfully closed over $100 million in sales totaling over 100 transactions. To expand his skill set, Steve also manages a portfolio of 130 apartment units in the Seattle area.

Steve excels at problem solving to complete his client’s invest-ment goals. His diverse background of brokerage and manage-ment provide a unique spectrum of knowledge. Drawing from this knowledge allows him to guide his clients not only through the sales process, but to also navigate the operational side of owning an apartment building. He truly is “A Wealth of Experience.”

A firm believer of investing in real estate as a module to gain wealth, Steve has been actively investing in Seattle real estate since 2011. In 2012, he was unanimously voted a partner at West-lake Associates, Inc. Away from the office, Steve is a huge sports fan, enthusiast of the outdoors, enjoys cooking, an avid soccer player and a die-hard husky.

Joe specializes in the sale of multifamily properties in the Puget Sound. Upon graduation from the University of Washington, Joe began his career at Westlake.

Growing up in North King County, Joe acquired a fascination with real estate after seeing the great change in his hometown as a result of urban growth. Joe enjoys looking at the numbers and analyzing different markets throughout the Puget Sound region to help his clients make the right investment decisions.

Joe stresses the importance integrity and believes that dealing honestly with clients is the greatest priority in business.

For over 13 years, Tyler has specialized in the sale of middle market multi-family assets in the Puget Sound Region. Tyler’s extensive experience includes the sale of various types of asset size and classifications. As an apartment owner himself, Tyler understands the importance of evaluating each client’s needs individually and carefully. Since joining Westlake Associates, he has consistently been one of the firm’s top performers and quickly rose to Partner. Tyler’s consistent effort and drive have earned him Westlake Asso-ciates Top Producer award.

Education

Tyler earned a degree in economics from the University of Wash-ington. Tyler worked in finance for a company headquartered in Irvine, CA before returning home to the Pacific Northwest. He joined Westlake Associates in 2004 and currently resides with his wife and two boys in Northeast Seattle.

1200 Westlake Ave N, Suite 310 Seattle, WA 98109T 206.505.9435C 425.830.2254fischer@westlakeassociates.com

1200 Westlake Ave N, Suite 310 Seattle, WA 98109T 206.505.9403C 206.321.8344joek@westlakeassociates.com

1200 Westlake Ave N, Suite 310 Seattle, WA 98109T 206.505.9425C 206.612.2475tylersmith@westlakeassociates.com

BROKER BIO & CONTACT