Woodbridge Waterfront Apt Community Secures $60M in Financing 

IDI Group Companies and PTM Partners have secured a $60 million senior loan to refinance Viridium, a waterfront apartment community in Woodbridge, Virginia. The loan, provided by a life insurance company and structured by BWE’s Washington, D.C. office, will help complete near-term objectives for the property.  

Viridium, delivered in 2022, offers 318 apartments with modern amenities and is part of IDI’s Rivergate development, which totals 720 units. The community features amenities including a resort-style pool, fitness center, rooftop terrace, and shuttle service. Viridium’s location offers scenic riverfront living with access to Fort Belvoir and downtown Washington, D.C. 

“Particularly in this conservative lending market, this financing demonstrates the strength of the asset and is validation for the vision of our joint venture,” said Scott Meyer, partner and CFO of PTM. “Viridium brings first-class housing to Prince William County and the D.C. metropolitan area that marries proximity to all the city has to offer with NoVa’s access to nature and calmer pace of life.”