Kirkland, and specifically Carillon Point, has historically attracted the highest rents of any project in the greater Puget Sound area, including Seattle’s CBD, according to a prepared statement. Carillon Point, and now Waterfront Place, benefits from the culmination of multiple hard-to-replicate factors such as lakefront view space and the active waterfront amenities of Yarrow Bay Marina and Carillon Point. The location also boasts a central Eastside location in the “technology corridor,” as Kirkland is mid-way between the tech hubs of South Lake Union and Redmond.

According to Pollard, “Talon has looked at well over 165 opportunities in the last year since we have launched, and this was our first choice. We are excited to build the Talon portfolio with the addition of Waterfront Place. We are actively looking at other opportunities in the major, predominantly West Coast, markets and expect more announcements in the next few quarters.”

As GlobeSt.com previously reported, the team launched Talon Private Capital in 2009 with the intention to “seize the moment by acquiring assets while competition is moderate and capital is scarce.” At the time, the firm said it plans to invest in commercial real estate assets and debt instruments that provide a balance of cash flow and appreciation. Pollard has previously said that he and his partner’s relationships with institutional owners and lenders and local market intelligence networks afford it early access to these high-quality, yet distressed, assets; its sweet spot for deal values is reportedly $20 million to $60 million.