BURIEN, WA – Canyon Partners Real Estate and American Capital Group announced their joint venture to develop Kinect @ Burien, a 230-unit apartment project located in the Seattle suburb of Burien, Washington. Canyon invested $25.6 million of equity into this project, which is located in a qualified opportunity zone. The joint venture also simultaneously closed on a $51.5 million senior construction loan.
This investment marks Canyon’s second multifamily project in partnership with ACG in the past two years. Canyon and ACG also partnered on Kinect @ Lynnwood, another apartment project in nearby Seattle suburb Lynnwood. In total, Canyon has invested in nine Qualified Opportunity Zone projects to date, capitalizing over $700 million of real estate development projects.
“Similar to our other qualified opportunity zone venture with Canyon, this multifamily community will provide much needed housing to the greater Seattle area,” said B.J. Kuula, President at ACG. “We are proud to offer both an attractive and cost-effective housing option to residents and contribute to the economic growth of the region.”
Kinect @ Burien is located in downtown Burien one block west of Burien Town Square. The project will be conveniently located within reach of many of the area’s major employment hubs, including Kent Valley, Seattle-Tacoma International Airport and downtown Seattle and Bellevue. Once construction concludes, Kinect @ Burien will offer a mix of studio, one-bedroom and two-bedroom units along with secure, covered parking, a fitness center and outdoor community areas. Kinect @ Burien is participating in the City of Burien’s Multifamily Tax Exemption program, dedicating 20% of the project’s units as affordable housing.
The project will commence construction immediately and is expected to deliver during the summer of 2023.

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DETROIT, MI – Adam M. Lutz of Lutz Real Estate Investments and Matthew Sosin of Northern Equities Group announced that their joint venture has completed its $70 million renovation of The Albert Kahn Building, and its conversion into 206 apartments, now named The Kahn Apartments.
Located in Detroit’s New Center/Midtown North neighborhood, the 11-tale, 320,000 square foot Art Deco masterpiece was built by The Fisher Brothers and designed by famed architect Albert Kahn. Recognized on the National Register of Historic Places, The Albert Kahn Building first opened its doors in 1931 with opulence and opportunity in mind and was home to prestigious businesses including Kahn’s own architectural firm for 90 years. The first floor, with 18-foot-high ceilings and massive windows, once home to Saks Fifth Avenue, is available and ready for a new office, showroom, or retail tenant.
“The Albert Kahn Building was originally designed as one of the crown jewels of Detroit,” said Adam M. Lutz, CEO of Lutz Real Estate Investments. “That was the mindset that we had when designing these apartments and restoring a historical landmark. Each of the 700 original windows was removed, hand restored and re-installed back in their original location. It’s the attention to these types of details that have impressed visitors and led to significant leasing results.”
As two fourth generation Detroiters, The Albert Kahn Building’s renovation was an undertaking and a point of pride for Lutz and Sosin, and included the conversion of the office space on floors 2 thru 11 into 206 studios, one-, two-, and three-bedroom apartments with floorplans ranging from 530 to 1,317 sq. ft. The penthouse units feature an interior stairwell unique to each apartment. With interiors designed by Detroit-based Kraemer Design Group, Lutz and Sosin ensured the one-of-a-kind Art Deco architecture remained intact.
The community boasts expansive views of the city and offers its residents the most complete list of amenities in all of metro-Detroit. There are two lounges – “The Drafting Room”, a sophisticated workspace area with a library and features the Bar AK, and “The 1931 Room”, which provides residents an area to watch events on large screen TV’s while playing parlor room games. With Pallister Park nearby, The Kahn is a pet friendly environment and offers a spa area for resident’s pets. The Kahn offers residents a full gym experience with 3,000 sq. ft. professionally equipped fitness center, along with a yoga and spinning studio. Additionally, the “Diamond K Club” is an outdoor rooftop deck complete with grilling stations and breathtaking views.
“Our ultimate goal was not only to keep the grandeur of the building, but to improve and modernize where we saw opportunity,” said Matthew Sosin, President of Northern Equities Group. “We have been able to establish contemporary, modern homes while honoring the overall legacy of one of Detroit’s treasures. We believe everyone in Detroit will be proud of the results and expect The Kahn to further engage the New Center and Midtown North neighborhood.””
The Kahn will be managed by Farmington Hills-based Beztak. A “Grand Re-Opening” ceremony is expected in September.

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GLEN COVE, NY – FCP announces that it recently closed on a preferred equity investment to facilitate Fairfield Properties’ acquisition of a residential community currently known as Avalon Glen Cove located in the village of Glen Cove, New York. Fairfield Properties, a Melville-based owner and developer of commercial real estate, is the largest multifamily owner and operator on Long Island with over 45 years of experience.
The luxury mid-rise property will be rebranded as Fairfield Metro at Glen Cove and consists of 367 residential units. The transit-oriented property is located near the Glen Cove Station on the Oyster Bay Branch of the Long Island Railroad, which has a 1-hour trip between Glen Cove and New York City. The brand-new Glen Cove Ferry will provide riders with an additional option for their daily commutes to Manhattan.
Fairfield Metro at Glen Cove offers thoughtfully designed studios and one- and two-bedroom apartments that include gourmet kitchens with refined finishes, washers and dryers, spacious walk-in-closets and private patios or balconies. Community amenities include AM/PM concierge-attended lobbies, two outdoor swimming pools with sundeck, two fitness centers, an underground, indoor parking garage, a landscaped picnic area and a resident cinema.
“We are excited to continue to grow our relationship with Fairfield with our investment in this Class A community in the Glen Cove market, which complements Fairfield’s portfolio and operational experience,” said FCP Senior Vice President, E.J. Corwin.
Fairfield Metro at Glen Cove represents FCP’s fifth transaction with Fairfield Properties.

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