Jones Lang LaSalle Incorporated: $ 34.34 million in financing obtained for a multi-unit property in the DC zone


WASHINGTON, DC, December 21, 2021 –JLL Capital Markets today announced that it has set up $ 34.34 million in financing for the acquisition of The Mark, a 227-unit value-added multi-unit community located in the community of Alexandria, Va. , in Washington, DC.

JLL worked for the borrower, Washington Property Company, to secure a three-year variable rate non-recourse bridge loan with one-year extensions through MetLife Investment Management.

The Marque contains 34 non-renovated units, 90 partially renovated units and 103 fully renovated units. Non-renovated units offer granite counters, white appliances, classic cabinetry, and tiled floors in kitchens and bathrooms. Completely remodeled units include granite countertops, stainless steel appliances, modern cabinetry, and hardwood floors in kitchens and living rooms. Facilities at the property include a swimming pool with an outdoor terrace, an outdoor lounge and terrace, a patio for grills and a fireplace, a lobby with a cafe-bar and a public transport screen, a fitness center State-of-the-art with a private studio gym, 24-hour dry cleaning and laundry service, a business center with flexible home workstations, a club room with a large bar and a game room.

Located between I-495 and Duke Street at 100 S. Reynolds St., The Mark offers residents quick access to major employment hubs such as downtown Alexandria, Arlington and Washington, DC. Van Dorn subway station, four subway stops from Ronald Reagan Washington National Airport and one subway stop from King Street Old Town subway station, which also serves as a station for Amtrak and VRE. The community is also just 6 miles from Virginia Tech’s new innovation campus and four metro stops from the headquarters of a global e-commerce giant. The location is close to several retail options at Bailey’s Crossroads, Alexandria Commons, Carlyle Plaza, and Hoffman Town Center. Additionally, The Mark is a 0.5 mile walk from the Landmark Shopping Center redevelopment, which when completed will be a 4.2 million square foot mixed-use project anchored by the Inova Health System Hospital. .

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Jimmy Conley and Director Drake Greer.

JLL Capital Markets is a global full service provider of capital solutions for real estate investors and occupiers. The company’s in-depth knowledge of the local market and global investors provides the best solutions for clients – whether it is investment and sales advice, debt advice, equity advice or recapitalization. The company has more than 3,000 capital markets specialists around the world with offices in nearly 50 countries.

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