TYSONS, VA–The Meridian Group has secured a $22.9 million mezzanine loan to finance the development of a 25-story, 140-unit luxury condo that is currently under development at The Boro, its 15-acre, 4-million square foot project here.

Los Angeles-based Canyon Partners Real Estate provided the financing for the condo, which Meridian is calling Verse. Verse is the first substantial condominium development in Tysons since One Park Crest delivered in 2008. “With this project, we hope to provide the community with a best-in-class product to meet the growing and pent-up demand for modern, luxury condominiums in Tysons, Meridian Group CIO Gary Block said in a prepared statement.

The project is expected to deliver in late 2019.

This summer the Meridian Group struck another financial arrangement, this time with the New York City-based Rockefeller Group. The two companies formed a JV to co-develop a 20-story, 437,000-square-foot trophy office at The Boro development. It was a significant deal for the Rockefeller Group, as it represents both the company's largest ground-up office development outside New York and its first in Washington, DC.

The Boro is located directly across from the Silver Line's Greensboro Metro Station. The first phase, which broke ground last year, will consist of 1.7 million square feet of mixed-use development, including 677 residential units, 500,000 square feet of office space and 260,000 square feet of retail space anchored by a 69,000 square foot Whole Foods Market as well as a 79,000 square foot ShowPlace ICON Theatre.

Save

Instant Insights /

Meridian Secures Mezz Loan for Luxury Condo at The Boro

Related Stories

Recommended For You