Acquisition of Development Site in Bellevue, Washington

SCOTTSDALE, July 31, 2014 /PRNewswire/ — The Wolff Company announced the acquisition of a nearly 2-acre development site in Bellevue, Washington. Located in the heart of the Bellevue Central Business District, the site represents a rare opportunity to participate in a full city block development. The proposed development will include 353 Class-A multifamily units and approximately 26,000 square feet of street-level retail. The Bellevue Central Business District is home to several notable employers such as Microsoft, Expedia, Puget Sound Energy and Symetra Financial.

“This acquisition furthers our commitment to the strong markets of the Pacific Northwest. We are excited for the opportunity to add to the Wolff Real Estate Partners II, L.P. portfolio and are optimistic that the strong market fundamentals in Bellevue will create significant value for the fund, its investors, and the surrounding community,” commented Jamie Dawson, Executive Vice President of Development at The Wolff Company.

About The Wolff Company

Wolff has invested in, acquired and developed high-quality multifamily assets for more than six decades. The Company is headquartered in Scottsdale, Arizona and maintains offices in Washington, Massachusetts and California. Contact us at 480.315.9595 or visit us online at www.awolff.com.

Any release contained herein should not be construed as a solicitation and no solicitation is hereby made or intended.  This release may contain forward-looking statements that are based on management’s current expectations, estimates, forecasts and projections and are not guarantees of future performance. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on any such statements. Forward looking statements can be identified by the use of words such as “believe,” “expect,” “plan,” “estimate,” “project,” “target,” “anticipate,” “intend,” “may”, “will,” “continue,” and other words of similar meaning in connection with a discussion of future operating or financial performance.  A number of important factors could cause actual investment results to differ materially from the forward-looking statements that may be contained in this release. Forward-looking statements in this release speak only as of the date on which such statements were made, and management undertakes no obligation to update any such statement or statements that may become untrue because of subsequent events. We claim the safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

SOURCE: The Wolff Company

For further information: Stephen Nelson of The Wolff Company, 480.248.2519, snelson@awolff.com; or Denise Resnik of DRA Strategic Communications, 602.956.8834, denise@resnikpr.com, for The Wolff Company.