WC Smith Secures $106.3 Million Loan For MultiFamily Development At 880 New Jersey Avenue Southeast

The asset involved in this transaction is a multi-family property located at 880 New Jersey Avenue Southeast in Washington, DC. It consists of 1,138 units and is a part of the Capitol Riverfront area.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $106,300,000
• Landlord: WC Smith
• Broker: Brendan Coleman & Connor Locke - Walker & Dunlop
• Loan Terms: 35-year amortization and 10 years of full-term interest-only payments

Walker & Dunlop arranged financing for WC Smith's Agora, which is a 334-unit luxury apartment development. The financing process included locking in a rate within 24 hours and is part of a broader financing strategy for The Collective's phases, demonstrating Walker & Dunlop's capability to deliver quick, tailored solutions for multi-phase developments.