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JLL Secures $135M Refinancing for Arlington Apartment Tower
JLL has arranged a $135 million loan to refinance Altaire apartments, a 451-unit apartment tower in Arlington, VA. Jamie Leachman and Paul Spellman of JLL worked on behalf of the borrower, LCOR, to secure the five-year, floating-rate loan to take-out the existing construction loan.
Located at 400 Army Navy Dr. in the Crystal City neighborhood, Altaire is positioned the forthcoming Amazon HQ2 development and is walkable from various retail, dining and entertainment options. The property is also nearby Reagan National Airport and the Pentagon. The community consists of studio, one- and two-bedroom floorplan options. Amenities include a sky lounge, fitness center, fire pits and grilling area, a pool penthouse lounge and pet washing area.
“Located directly across the street from a major company’s headquarters and with sweeping views on D.C. and Northern Virginia, the Altaire is the preeminent multi-housing property in the National Landing submarket,” said Leachman. “The competition was fierce for this financing opportunity garnering multiple offers from a variety of lending sources.”
