MSquared Receives Funding for $54M Mixed-Income Apartment Project in Lynnwood, Washington

LYNNWOOD, WASH. — MSquared has received $54 million in funding for Kōz on Alderwood, a 200-unit apartment development in the Seattle suburb of Lynnwood. 

Kōz Development is partnering with MSquared on the mixed-income, transit-oriented development. The project is being financed by $35 million in debt from Coastal Community Bank, $13 million in equity from MSquared and $6 million in equity from Kōz Development investors. 

Construction of Kōz on Alderwood is scheduled to begin in spring 2023, with a planned completion date of early winter 2025.