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Capitalization Process Begins On Koda Condominiums

Koda Condominiums

CBRE’s Capital Markets’ Debt & Structured Finance team has started the financing process for the $125M Koda Condominiums. The project is set to be complete in July 2020. 

The 204-unit development is at Fifth and Main in downtown Seattle. The site is surrounded by 22M SF of office space occupied by several companies, including Dropbox, Pixar, Weyerhaeuser and Intel. The area has a high walking score of 98 and a transit score of 100. Ninety-seven percent of the condos were reserved within the first week of marketing, according to CBRE Seattle Senior Vice President John Lo.

Lo is arranging financing on behalf of the sponsor, DA LI Development USA.

Construction will begin in October.