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Canyon Partners and American Capital Group are embarking on another opportunity zone development project in the Seattle area together. Kinect @ Burien is the joint venture’s second opportunity zone project in the Seattle area. The 230-unit apartment building is located in Burien, an opportunity zone district.

The project will cost upwards of $75 million to build. Canyon has invested $25.6 million in equity, and the joint venture has secured a $51.5 million senior construction loan. Canyon alone has worked on more than nine opportunity zone developments, representing a total of $700 million of real estate development projects. Those projects include Kinect @ Lynnwood, the previous apartment property developed by its joint venture with American Capital Group in Seattle.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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