Wick tells GlobeSt.com that Base Capital is currently constructing about 1,000 apartment units in a total of six projects (Lynwood, South Everett, Mill Creek, Bainbridge Island, Covington and Puyallup) and he expects there to be no problem with occupancy.
"We just finished one private placement through Seattle Northwest Securities for $17 million," Wick offers. "And, out of 168 units we're only been running two to five vacancies per month." This apartment complex in Lynwood (known as Wood Creek), says Wick, has not been impacted (at least, not yet) by Boeing layoffs—although he admits the firm's membership was more than a little nervous when the layoff announcements came.
"We started another project up there about a year ago," Wick says, "it's also about 160 units, and we've been building eight units to a pad and getting them leased up within 30 days of the certificates of occupancy."
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