MSquared and Kōz Development have successfully secured $48 million in financing for their latest project, a 169-unit all-electric housing development in downtown Seattle’s Lower Queen Anne neighborhood. The women-owned and led real estate firms have partnered on this project, which is expected to be completed by 2025.
The financing package includes a $26.1 million construction loan from Goldman Sachs Alternatives’ Urban Investment Group and a $9.7 million equity investment from MSquared. Cushman & Wakefield’s Equity, Debt & Structured Finance team facilitated these transactions while the remaining $12.2 million equity was secured by Kōz Development.
Kirtley-Cole Associates, a Snohomish County-based general contractor with experience working on previous Kōz projects, will oversee the construction of this environmentally-friendly development built to Washington’s “Built Green” standard equivalent to LEED silver certification.
This successful funding marks another milestone for MSquared and Kōz as they continue their partnership in delivering innovative real estate developments that benefit communities across the country.
