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Rainier Place, a 184-bed student housing development at
Edmonds College. The building was developed circa 2009 by the non-profit
Ecco Properties, which is associated with the
National Development Council. Align bought the 2015 tax-exempt bonds issued by the
Washington State Housing Finance Commission and
Key Government Finance. The deal closed at year s end. Align s
Dani Evanson said in a statement, “This transaction meets Align s investment objective to invest in tax-exempt debt that supports affordable housing. Align s financing provided the borrower with a unique financing solution that addressed the property s significant vacancy due to COVID-19.”