Carr Properties Secures $92 Million Construction Loan From PNC Bank For 299-Unit Multifamily Project

The property asset involved in the transaction is a 299-unit Class A apartment complex located at 2121 Virginia Avenue Northwest in Washington, D.C.'s Foggy Bottom. The total loan amount secured for construction is $92 million, facilitated by PNC Bank, with participation from United Bank.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $92,000,000
• Loan Type: Construction
• Lender: PNC Bank & United Bank
• Landlord: Oliver Carr - Carr Properties
• Broker Representatives: Brian Gould & Patrick Cunningham - Berkadia
• Market: Washington, DC

The deal highlights the involvement of Oliver Carr as the landlord, representing Carr Properties. Brokers Brian Gould and Patrick Cunningham from Berkadia played a key role in facilitating this transaction.