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New Tacoma Multifamily Project Secures $16M Refi
Cushman & Wakefield and Greystone have jointly announced the refinancing for Koz on MLK Way, a newly-built, 161-unit multifamily community in Tacoma, WA. The property, located in an Opportunity Zone, is a product of Koz Development’s focus to deliver high-quality and affordable multifamily residences.
Cushman & Wakefield’s Dave Karson, Chris Moyer, Paul Roeter, John Spreitzer and Jason Blankfein represented the borrower in the transaction. Greystone’s Michael Zampetti originated the $15.75 million Fannie Mae loan, which is a 10-year, fixed-rate loan with full-term interest only.
Located at 824 Martin Luther King Junior Way, the six-story community consists of studio, one-, two- and three-bedroom units averaging about 400 square feet. On site amenities include a courtyard with BBQ’s and lounges and a laundry facility. The property also includes 6,370 square feet of ground floor retail space.
“Koz on MLK Way opened in May of 2022 and through robust leasing activity was nearly fully occupied at the time of refinancing,” said Moyer.
- ◦Financing
