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$150M Multifamily Development Moves Ahead in Arlington
Erkiletian Development Company secured construction funding and broke ground on The Sur, a luxury 360‐unit Class A multifamily development in the 295‐acre Potomac Yard submarket of Arlington, VA. Key funding sources for the $148-million project came from PCCP, LLC, which provided $35.89 million in preferred equity.
Situated on a 1.67-acre site at 3400 Potomac Ave., the project will encompass 12 stories and include 16,503 square feet of retail space and 25,000 square feet of amenities.
Erkiletian Development Co.’s Stefanie Erkiletian says, “We believe that The Sur will deliver a highly soughtafter product that will generate interest from discerning professionals seeking luxury living in a prime D.C. location.”
HFF’s Walter Coker, Brian Crivella and Susan Carras arranged the preferred equity through PCCP, while U.S. Bank provided the construction loan. Completion of the development is anticipated in April 2020.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
