Comstock Holding Companies, Inc has jointly structured a ten-year, 4.5% fixed-rate $77.5-million loan with Berkadia Commercial Mortgage to refinance Phase II of its Loudoun Station development on behalf of Comstock Partners, LC, an affiliated, privately held company.

Patrick McGlohn, Miles Drinkwalter, and Joyce Connolly led the refinancing effort from the Berkadia Commercial Mortgage side. “We were able to lock in the interest rate before the run-up in yields, which will result in substantial interest savings over the life of the loan,” said McGlohn.

Comstock Holding Companies’ Loudoun Station, located in Ashburn, VA, includes more than 1 million square feet of Class A mixed-use development with another 1.5 million square feet planned for future delivery. Loudoun Station Phase II is composed of the BLVD Gramercy East and BLVD Flats apartment buildings, as well as ground-floor retail and structured parking.

Comstock Holding Companies, Inc. is a developer, investor, and asset manager of mixed-use and transit-oriented properties in the Washington, DC region.