ALEXANDRIA, VA—Paradigm Development Co. has secured $75 million in construction financing for its Park Meridian at Eisenhower Station apartment tower here.
Walker & Dunlop of Bethesda, MD arranged the deal for Arlington-based Paradigm with Quadrant Real Estate Advisors, LLC for the 12-year fixed-rate interest only loan.
The 25-story, 505-unit Class A multifamily project is designed to meet LEED building standards. The project will also feature 31 affordable units. The tower, located adjacent to the Eisenhower Avenue Metro Station in the Carlyle/Eisenhower East section of Alexandria, will feature studio, one-, two- and three-bedroom units and amenities such as concierge services, a swimming pool, a fitness facility, top-floor clubroom, and secure underground parking.
Executive Vice President J. Tyler Blue and Vice President Paul Wallace led the Walker & Dunlop debt placement team.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
