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Washington DC & Mid-Atlantic  + DC Metro  + Apartments  |  August 13, 2024
Jasmine Kilman
By: Jasmine Kilman

KeyBank Secures $94M in Financing for Tysons Corner MF

KeyBank Real Estate Capital (KBREC) secured a $94.3 million Freddie Mac fixed-rate loan for the NRP Group to refinance existing debt on a multifamily housing property in Tysons Corner, Virginia. NRP Group is a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, Rob Garrison and Anthony Tavrell of KBREC structured the financing.

The Rylan is a 390-unit five-story upscale rental apartment community built in partnership with real estate investment firm PointOne Holdings. Located less than a half-mile from Route 123, the McLean Metro Station and the I-495 Capital Beltway/Route 123 interchange, the Rylan offers upscale residences with high-end, condo-quality finishes.

The $94.34 million non-recourse first mortgage loan will be used to refinance the property’s existing debt. The loan is structured with a 5-year term, and after a 3-year interest-only period, it amortizes on a 35-year schedule.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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