Armada Hoffler Offers $42M Financing for MD-Based TOD

Armada Hoffler has announced its intent to provide $42 million in mezzanine financing for the Residences at Annapolis Junction Town Center, the $102-million multifamily component of Annapolis Junction Town Center. The 18-acre, mixed-use transit-oriented development in Ellicott City, MD will offer 17,000 square feet of retail space, a 150-room hotel and 100,000 square feet of office space, in addition to the multifamily product.

In addition to providing the $42 million in mezzanine financing, Armada Hoffler has also entered into agreements with the developer to provide a $68 million guaranteed maximum price construction contract as general contractor, as well as a purchase option to acquire an 88% interest in the project upon completion.