Grosvenor Americas announced that its structured development finance (SDF) business has closed a new financing commitment with Intracorp through Grosvenor’s True North III Partnership.
The commitment of $30 million in equity financing will be used to build an apartment building in Seattle’s Northgate neighborhood. The 220,000-square-foot, five-story property will deliver 295 homes, 59 of which will be below market rate. Designed by local Seattle-based architect Studio Meng Strazzara, the building is expected to break ground in early 2022 and complete in 2024
