Berkadia Arranges $114 Million Construction Loan For Rushmark Properties Development In Falls Church VA

This transaction involves a development site located at Falls Church Drive & West Falls Station Boulevard in Falls Church, VA. The asset is poised for a construction loan amounting to $114 million aimed at constructing a 305-unit Class A multifamily community. The project is part of a larger $136 million mixed-use redevelopment near the West Falls Church Metro Station.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $114,000,000
• Loan Type: Construction
• Lender: PNC & FCP
• Landlord: Rushmark Properties
• Broker Representatives: Patrick McGlohn, Brian Crivella, Yalda Ghamarian, Brian Gould, Bill Gribbin & Patrick Cunningham - Berkadia

This financing arrangement was facilitated by Berkadia, enabling Rushmark Properties to proceed with constructing a significant multifamily housing development within the bustling Falls Church market, enhancing local living options and contributing to the ongoing revitalization of the area.