The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
January 31, 2023
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
New Res Development in Tacoma, WA Lands $15.8 Mil Refi

1/04/23

Koz Development has obtained $15.75 mil in refinancing on MLK Way, a newly-built, 161-unit multifamily property in Tacoma, WA. Located in an Opportunity Zone at 824 Martin Luther King Junior Way, the six-story property consists of a mix of studio, one-, two- and three-bedroom units averaging 395 sf in size.

The property includes 6.4k sf of ground floor retail space. On-site residential amenities include a furnished courtyard space equipped with BBQs and lounge seating, on-site and in-unit laundry, and private balconies for select apartments.

The location provides convenient access to numerous amenities including restaurants,
supermarkets, fitness centers, and other retailers, all within a one-mile radius. The property is also two blocks from the new future Hilltop light rail station, connecting to popular Tacoma destinations.

Dave Karson, Chris Moyer, Paul Roeter, John Spreitzer and Jason Blankfein with Cushman & Wakefield’s Equity, Debt & Structured Finance team represented the borrower, an affiliate of Koz Development LLC, in arranging The Fannie Mae DUS® financing. Greystone’s Michael Zampetti originated the transaction, consisting of a 10-year, fixed-rate loan, with full-term interest only.

According to Moyer, Koz on MLK Way opened in May of 2022 and through robust leasing activity was nearly fully occupied at the time of refinancing. The property represents a high-quality, highly-amenitized, affordable housing community with an urban Tacoma location offering residents a premier live-work-play residential experience with immediate access to major employment centers in downtown Tacoma as well as commuting routes to Seattle in under an hour.




Return to the previous page


 


 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2023 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media