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2315 40th Place Northwest

DC Green Bank, CPC, Amazon, J.P. Morgan, And Freddie Mac Provide $26.7M Loan For Townley Court Development In Washington DC
FINANCEDDevelopment Site

DC Green Bank, CPC, Amazon, J.P. Morgan, And Freddie Mac Provide $26.7M Loan For Townley Court Development In Washington DC

2315 40th Place Northwest

$26,700,000

Building Size

Asset Type

Development Site

Closing

Jul 8, 2025

AI

The asset involved in the transaction is a development site located at 2315 40th Place Northwest in Washington, DC. The loan amount for this construction financing is $26,700,000, aimed at fully electrifying and upgrading the Townley Court affordable housing complex in DC’s Ward 3.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $26,700,000
  • Lender: DC Green Bank, CPC, J.P. Morgan, Amazon & Freddie Mac
  • Landlord: American Housing
  • Loan Type: Construction

This transaction involves multiple key players, including DC Green Bank, CPC, J.P. Morgan, Amazon, and Freddie Mac, who collectively provided the construction financing. The financing will support the enhancements to the Townley Court affordable housing complex, which is managed by American Housing.

Players

Freddie Mac
Freddie MacLender
Amazon
AmazonLender

Washington Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.59%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93