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New Lynnwood Multifamily Development Secures $61M Refi
Cushman & Wakefield has closed on the $61 million refinancing for Kinect @ Lynnwood, a newly developed, 239-unit multifamily property in the Seattle submarket of Lynnwood, WA. The firm represented American Capital Group and Canyon Partners Real Estate while the Fannie Mae financing was provided by Greystone.
“The property saw a fast lease-up due to its great location with ease of access, highly amenitized property and great finishes,” said Cushman & Wakefield’s Chris Moyer, who advised on the refi along with Dave Karson, Alex Lapidus and Chris Meloni. Greystone’s Michael Zampetti originated the 10-year, fixed-rate, interest-only loan.
Kinect @ Lynnwood blends luxury style with a transit-oriented location. Property amenities include a coffee bar, business center, clubhouse, outdoor social space and EV charging stations.
“With the Lynnwood Link light rail extension located just two blocks from the property, the neighborhood’s demand is expected to surge over the coming years,” added Moyer.
- ◦Development
- ◦Financing
