Colpitts Sunset LLC
Fund: Fund 2, iCap Northwest Opportunity Fund LLC
Location: 2711 Sunset Lane NE, Renton, WA 98056
Description: Sunset Terrace will be developed into 108 units of market rate housing, a number of moderate income townhomes and flats. In addition, the neighborhood will feature the new Renton Highlands Library, a new two acre City park, and a proposed 122-unit senior assisted facility.
Investment Date: 3/29/2016
Estimated Exit: 10/31/2019
Investment Amount to Date: $5,297,485.85
Q1 2019 Progress Update: Obtained building permits and bids to build out the project, and determined the best exit strategy would be to sell the land now with permits.