Canyon Partners Real Estate, the real estate direct investing arm of Canyon Partners, and American Capital Group (ACG), a Seattle-based real estate company, announced their joint venture in development of a 239-unit apartment project in the Seattle suburb of Lynwood.
Canyon invested $25 million of equity into this project, which is located in a qualified opportunity zone. The joint venture also simultaneously closed on a $45.5 million construction loan from U.S. Bank.
Construction on the development named Kinect @ Lynnwood is set to begin this month and is planned to be completed . . .
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