Kōz Development has closed on $28.3 million of construction debt and $15.8 million of equity for the development of Kōz on Wetmore.
The ground-up multifamily development will deliver 169 mixed-income apartments to the downtown area, approximately 30 miles north of Seattle. The project, being constructed by Kirtley-Cole Associates, is expected to be completed in 2026. It is the 29th multifamily project developed by woman-led Kōz Development, which has a portfolio of over 4,000 units in the Pacific Northwest.
Cushman & Wakefield served as the executive advisor to Kōz Development in arranging the debt financing, led by an Equity, Debt & Structured Finance (EDSF) team consisting of Chris Moyer, Dave Karson and Chris Meloni. The loan was provided by Coastal Community Bank. Located at 2609 Wetmore Avenue, Kōz on Wetmore will offer a range of layouts, including 144 studios, 15 one-bedroom and 10 two-bedroom homes.
