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Seattle & Northwest  + Seattle  + Apartments  |  May 28, 2024
Jasmine Kilman
By: Jasmine Kilman

Seattle Housing Project Lands $48M Financing

MSquared, a women-owned real estate development and investment platform, and Kōz Development, a Washington-based, women-led development firm, have closed on $48 million in financing for Kōz in Lower Queen Anne.

The project, developed by Kōz, will deliver 169 units of all-electric housing in downtown Seattle. The project has broken ground, and construction is anticipated to be complete in 2025. This is the second investment that MSquared and Kōz have partnered together on.

Financing includes a $26.1 million construction loan from the Urban Investment Group at Goldman Sachs Alternatives and a $9.7 million equity investment provided by MSquared. Cushman & Wakefield’s Equity, Debt & Structured Finance team facilitated these two layers of the transaction’s capital stack. The remaining $12.2 million equity was secured by Kōz Development.

Kōz in Lower Queen Anne is being built by Kirtley-Cole Associates, a Snohomish County-based general contractor that has worked on several Kōz projects. The all-electric development will be constructed to Washington’s “Built Green” standard, which approximates a LEED silver level of sustainability.

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Koz DevelopmentMSquared

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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