WASHINGTON, DC-Cassidy Turley has arranged a non-recourse, fixed rate refinance package totaling $170 million for a 5,000-unit, 13-apartment portfolio. The properties, located in four jurisdictions of the Washington, DC area, are owned by partnerships controlled by Jack Kay and members of his family. Philip Mudd, Christian Miles, and Jon Goldstein of Cassidy Turley arranged the financing under Fannie Mae’s multifamily lending program. Grossberg Yochelson Fox & Beyda served as the borrower’s law firm.

All of the properties but one are located in submarkets of Maryland including Germantown, Gaithersburg, Silver Spring, Laurel, Hyattsville, Landover, Temple Hills and Annapolis. London Park Towers is located in Alexandria, VA. The Maryland properties are White Oak Towers, Londonderry Apartments, Senaca Club, Wayne Manchester Towers, Deerfield Run, Landsdowne Village, Kenilworth Towers, London Park Towers, Gateway Square and Iverson Towers. 

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