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Apartment firm closes fund to build rentals in Washington, California

Kinect Real Estate plans $1.6 billion development pipeline
American Capital Group and Prudential's PGIM Real Estate are building The Foundry at Totem Lake in Kirkland, Washington. (CoStar)
American Capital Group and Prudential's PGIM Real Estate are building The Foundry at Totem Lake in Kirkland, Washington. (CoStar)

A Seattle-area multifamily firm raised a higher-than-expected $126.5 million for development projects in the latest sign of investor confidence in Seattle and other West Coast cities that are posting steady apartment rent growth.

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