RESTON, VA – Comstock Holding Cos. Inc.'scapital markets group has arranged a $73 million dollar loan withFreddie Mac for a luxury apartment tower in Reston, VA. Theapartment building, BLVD I, is situated in the center of Comstock'sReston Station development.
Comstock subsidiary, Comstock Real Estate Services LC, arrangedthe non-recourse construction take-out loan on behalf of one ofComstock's managed companies, CRS BLVD I LC. The Freddie Mac loan,which has a 10-year term and a 3% annual interest rate, replacesthe maturing construction loan, originally provided by CitizensBank.
Developed by Comstock, the 448-unit tower is located at 1908Reston Metro Plaza, near the north entrance of Wiehle-Reston EastMetro Station along Metro's Silver Line.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
