Avison Young Arranges Loan for 119-Unit Alexandria Multifamily Project
NOVO Properties is to break ground on their construction of the 119-unit multifamily project in Alexandria, VA after securing construction financing from Avison Young. This will add to NOVO’s portfolio of approximately 2,000 apartment units across Washington, DC, Maryland, Virginia, and Chicago.
Avison’s team was led by principals Jon Goldstein, Wes Boatwright and Mike Yavinsky. The construction loan was provided by EagleBank.
Located within walking distance to Braddock Road metro station, the seven-story Grayson building will feature modern finishes and amenities, and a below-grade parking lot and ground-floor retail center. The development intends to cater to the demand for high-quality apartments due to its proximity to tech giants and Virginia Tech’s Innovation Campus.