ARLINGTON, VA – CBRE has arranged $161.5 million in refinancingfor the 825-unit multifamily property, Crystal House, on behalf ofRoseland Residential Trust, a Mack-Cali company andan investor account advised by UBS Realty InvestorsLLC.

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The seven-year, floating-rate refinancing was secured throughFreddie Mac and arranged by the CBRE team of Michael Sherman, IreneLu, Michael Riccio, Susan Larkin and Anna Pfau.

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Situated within Arlington, VA's Crystal City neighborhood, the17-acre, multifamily complex is located near the Crystal City metrostation and Amazon's planned HQ2.

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"This is among the largest multi-family refinancings to occurcompletely during the COVID crisis, as lenders have been highlyconcerned about rent collections and the impact of the resultingeconomic shutdown," Sherman stated.

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He continued, "Valuation, pricing and loan structures have beenall over the spectrum. Compounding the valuation complexity was aDecember 2019 rezoning and site plan approval that almost doubledthe existing density and significantly impacted assessedvalue."

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Multifamily Property with Pool Crystal City in Arlington, VA

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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.