
WELLSTONE AT BRIDGEPORT
DEVELOPMENT HIGHLIGHTS
- Built 2018
- Lease up 2019
- Sold 2021
- Avg IRR 19.35%
- 208 units
- Gated Community
- 281 parking stalls, 23 garages
- Clubhouse with pool & fitness center
SOLD for $72.4 Million
LOCATION
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PROJECT STAGE: SOLD
5 Years - Concept to Disposition
19.35%
Investors Annual Rate of Return
MANAGED ALL PHASES
• Funding • Design • Permits
• Build-out • Marketing • Lease-up • Sale
Wellstone at Bridgeport - 208 Unit Development Project
Wellstone at Bridgeport consists of 208 units over four buildings on seven total acres. The units include studios, open one-bedroom, and one- and two-bedroom residences, along with 281 parking spots, of which 23 are detached garages. Each garden-style unit comes with high-end interior finishes, and 128 units feature large, covered balconies.
Residents of the gated, elevator-accessible community can enjoy a 24-hour fitness center, a clubhouse, a pool with a sun deck, a secured 24-hour mail room with Amazon parcel lockers, and an outdoor picnic area complete with a gazebo and grills. Sidewalks and site circulation were designed intentionally for residents with dogs, proving an accessible walking route.
Investment Highlights
- Best-in-class multi-housing asset
- Green certification
- Proximate to Peirce County's largest employers
- Market fundamentals support rent growth
- Puget Sound's major employers continue to prosper
- Convenient access to major roads and public transit
- MFTE tax abatement
Home Features
- Spacious homes sized from 600 sq. ft. to 1100 sq. ft.
- Expansive countertop prep space
- Kitchen bars for dinner prep and conversation
- Modern wood-like flooring with plush carpet in bedrooms
- Sophisticated bathroom design
- In-home washers and dryers
Community Features
- The Lodge Clubhouse featuring an inviting great room
- 24-Hour Fitness Center featuring top-tier equipment
- Pool and Pool Deck for those warm, sunny summer days
- Clubhouse BBQ area for neighborhood cookouts
- Second picnic area complete with gazebo and grills
- Building Elevator Floor Access