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JV Secures $195M for Residential Development in Arlington
Hoffman & Associates has partnered with Snell Properties and Mitsui Fudosan America, Inc. to develop 4600 Fairfax, a $195 million residential community in Arlington’s Ballston neighborhood.
Hoffman & Associates, Snell Properties and MFA are co-developing the project, an approximately 550,000-square-foot community spanning more than four acres in Arlington’s Ballston neighborhood. The senior construction loan is provided by Mitsubishi UFJ Financial Group, with Berkadia brokering the deal.
Located at 4600 North Fairfax Drive, the development’s first phase is planned to deliver 420 residential units across a seven-story multifamily building, along with site preparation for a separate for-sale multifamily component. Plans also include over 380 parking spaces. The property will deliver new housing within walking distance of Metro, retail and major employment centers.
The closing builds on a period of sustained activity for Hoffman & Associates more broadly, including the recent groundbreaking of 3200 W. Moore and other projects in Richmond, Virginia.
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