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Waterfront Station II in Washington, DC

Merchants Capital Arranges $141M for DC Mixed-Income, Mixed-Use Project

Merchants Capital has secured more than $141 million in financing for Waterfront Station II, a multifamily, mixed-income and mixed-use property currently under construction in the southwest neighborhood of Washington, DC. The community is a joint venture between Hoffman & Associates, AHC Inc., City Partners and Paramount Development.

Waterfront Station II will bring 449 units of market-rate and affordable apartments to the area.  The affordable housing units were financed using both 4% and 9% Low-Income Housing Tax Credits. Ninety-four of the total affordable units are attributed to the 4% LIHTC while 42 of the total affordable units are attributed to the 9% LIHTC.

Merchants Capital financed the property with three Merchants Bank of Indiana construction loans totaling $141.3 million plus provided financing for three separate Fannie Mae 42-month forward commitments for the permanent financing.

The full development on 4th Street NW will consist of a single, 12-story apartment building with approximately 29,000 square feet of ground-level retail, educational and commercial space.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing
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