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Jair Lynch Buys Arlington Market-Rate Housing with Amazon’s Backing
Jair Lynch Real Estate Partners has acquired Barcroft Apartments, a 1,334-unit complex in Arlington, VA. The acquisition was supported by the Amazon Housing Equity Fund (a $2 billion commitment to create and preserve affordable housing in Amazon’s hometown communities) and Arlington County.
Amazon and Arlington County have collectively committed to providing $310 million in acquisitions financing to create a public-private partnership for the Barcroft neighborhood. The partnership will ensure Barcroft Apartment units remain affordable with rents up to 60% of the area median income for 99 years.
Since 2019, Jair Lynch has invested $900 million in its attainable housing initiative to increase/preserve affordable and workforce housing for those earning 30% – 120% of the area median income.
The 60-acre Barcroft Apartments site includes two commercial parcels with 34,000 square feet of retail. The asset was purchased from the DeLashmutt family, who built the complex in 1939.
Hogan Lovells represented Jair Lynch in the transaction.
- ◦Sale/Acquisition
