ARLINGTON, VA–Erkiletian Development Co. has broken ground on The Sur, a 360-unit luxury apartment in Potomac Yard after having secured funding for the $148 million project.
PCCP was one of Erkiletian's key funding sources, providing $35.89 million in preferred equity for the project, which was secured by the HFF team of Walter Coker, Brian Crivella and Susan Carras. US Bank provided the construction loan.
The Sur is incorporating landscaping that is reminiscent of its namesake, which is a rugged stretch of California's central coast. Its outdoor area will have large boulders, moss, forest trees, a fire pit — essentially elements that give the feel of a national park
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
