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Seattle & Northwest  + Opportunity Zones  | 

Sortis Delivers $60M for Puget Sound Opportunity Zone Development

Portland-based Sortis Holdings Inc. closed on equity funding for Tukwila Village Phase II, a mixed-income senior living development in Tukwila, WA. The private equity firm provided $59.8-million in funding for the 210-unit senior living Opportunity Zone development.

Sortis’ Paul Brenneke says, “We believe delivering a high-quality project with attractive investment returns, while simultaneously providing an affordable housing option to low-income seniors, is a win-win.”

The two-phase project is situated on roughly 5.76 acres. There are 204 apartment units exclusively for seniors in Phase II, with six live/work units, roughly 8,300 square feet of commercial/retail space and structured parking. Upon delivery in late 2020, the combined project will be the third-largest senior living development in Washington, encompassing 403 apartment units.

Sortis invested capital from its $100-million Sortis Opportunity Zone Fund, alongside project sponsor Bryan Park, a Puyallup-based developer. The project will be operated by Sustainable Housing for Ageless Generations, or SHAG, a 501(c)(3) nonprofit.

Connect Opportunity Zones will be presented for the first time on Oct. 23 in New York. For more information, or to register, click here.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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