ALEXANDRIA, VA. — Berkadia has provided a $157 million Fannie Mae acquisition loan for Mason at Van Dorn, a 1,180-unit community in Alexandria. The borrower and purchaser was a partnership between Shoreham Capital and Bridge Investment Group. The seller was CIM Group, which acquired the asset in 2017. Walter Coker, Brian Crivella, Yalda Ghamarian and Bill Gribbin of Berkadia originated the financing on behalf of the buyers.
Mason at Van Dorn was originally built in 1972. The complex consists of 14 buildings on a 30-acre site. Amenities include two pools, a fitness center, tennis courts, courtyards, a business center, outdoor grilling and dining stations, game room, movie theater and a dog park.
The property is situated at 140 S. Van Dorn Street, adjacent to WestEnd Alexandria, a 4 million-square-foot mixed-use development that is a redevelopment of the former Landmark Mall. The 52-acre development will also be the future home of the Inova Alexandria Hospital Campus.