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| Altaire apartments, 400 Army Navy Drive, Crystal City neighborhood, Arlington, VA |
WASHINGTON DC– JLL Capital Markets announced it has arranged $135 million refinancing for the 451-unit Altaire apartments in Arlington, Virginia.
JLL worked on behalf of the borrower, LCOR, to secure
the five-year, floating-rate loan to take-out the existing construction loan.
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| Jamie Leachman |
Located at 400 Army Navy Dr. in the burgeoning Crystal City neighborhood, Altaire is positioned across the street from one of the biggest ecommerce company’s second headquarters development and is walkable from various retail, dining and entertainment options.
The property is also a
short drive to Reagan National Airport and a quick bike ride to Virginia’s
prominent Pentagon City and Pentagon.
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| Paul Spellman |
The JLL Capital Markets team representing the borrower was led by Senior Managing Director Jamie Leachman and Senior Director Paul Spellman.
“Located directly
across the street from a major company’s headquarters and with sweeping views
on D.C. and Northern Virginia, the Altaire is the preeminent multi-housing
property in the National Landing submarket,” said Leachman.
“The
competition was fierce for this financing opportunity garnering multiple offers
from a variety of lending sources.”
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CONTACT:
Natalie
Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307
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