Updated Dec 3, 2024
Amazon Housing Equity Fund Provides $310M Construction Loan For Barcroft Apartments In Arlington, VA
1130 South George Mason Drive, Arlington County, Virginia 22204, United States
$310,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 14, 2021
About this deal
AI
The Barcroft Apartments, located at 1130 S George Mason Dr. in Arlington, VA, have secured a construction loan worth $310,000,000. The loan was provided by the Amazon Housing Equity Fund, in collaboration with Catherine Buell from the Arlington County Industrial Development Authority and PNC Bank. The multifamily property spans across 60 acres.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $310,000,000
- Address: 1130 S George Mason Dr.
- Market: Arlington, VA
- Lender: Amazon Housing Equity Fund - Catherine Buell, Arlington County Industrial Development Authority & PNC Bank
- Landlord: Barcroft Apartments
- Loan Type: Construction
Catherine Buell, representing the Arlington County Industrial Development Authority, played a key role in facilitating the loan for the Barcroft Apartments. This significant funding will support the construction of the property and contribute to its future success.
Players
Arlington MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93