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Elle-DC
FinanceNewsNortheastWashington, D.C.

Newmark Arranges $64M Refinancing of D.C. Adaptive Reuse Project

by Lynn Peisner

WASHINGTON, D.C. — Newmark has arranged a $64 million refinancing loan for Elle, a newly developed office-to-residential conversion project in Washington, D.C. The 11-story multifamily community, which formerly served as the Peace Corps headquarters, opened in 2024 and was developed by Willco. The building is located in the Golden Triangle Business Improvement District (BID), a 44-square-block area that stretches from Dupont Circle to Pennsylvania Avenue. The Golden Triangle BID is a nonprofit that encourages economic development through capital improvement projects. Elle is comprised of 163 units, 8,000 square feet of …

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Fannie-Mae
Affordable HousingFinanceNewsNortheastWashington, D.C.

Fannie Mae Multifamily Loan Volume Rose 34 Percent in 2025

by Lynn Peisner

WASHINGTON, D.C. — Fannie Mae closed 2025 with a 34 percent year-over-year increase in multifamily loan volume. The agency provided approximately $74 billion in financing last year (compared with $55 billion in 2024), the highest figure since 2020. More than $8.3 billion funded affordable housing transactions, a 31 percent increase from 2024. Forty percent of all deals in 2025 were executed under Fannie Mae’s delegated underwriting model. The top-five DUS lenders last year were Walker & Dunlop ($8.95 billion); Wells Fargo ($7.75 billion); CBRE ($7.47 billion); Berkadia ($7.04 billion); and …

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Kingston-McLean
BerkadiaInvestment SalesNewsNortheastVirginiaWashington, D.C.

Berkadia Arranges Sale of Kingston at McLean Crossing in D.C. Metro

by Lynn Peisner

MCLEAN, VA. — Berkadia has arranged the sale Kingston at McLean Crossing, a 319-unit property in McLean that was developed in 2018. JLL Income Property Trust and LCOR were the sellers. Pantzer Properties was the buyer. The deal closed on Jan. 30, at which time the asset was 96 percent occupied. Berkadia’s Brian Crivella, Yalda Ghamarian, Bill Gribbin and Jack Canepa of Berkadia DC Metro represented the sellers. Since the acquisition, Pantzer has rebranded the asset The Point at McLean. Located at 7480 Birdwood Ave., Kingston at McLean Crossing comprises …

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NOVEL-Arlington-Virginia
Affordable HousingBuild-to-RentDevelopmentInvestment SalesNewsNortheastWashington, D.C.

Crescent Communities, Rockefeller Group Partner on D.C. NOVEL Project

by Lynn Peisner

ARLINGTON, VA. — Crescent Communities, in its first partnership with Rockefeller Group, has closed on a land sale for the future development of NOVEL Arlington. Early plans for the community call for 493 apartments and 37 townhomes rented at both affordable and market rates. Rent caps were not disclosed. The site, 5.5 acres at 2480 South Glebe Road, is about 3 miles west of Ronald Reagan Washington National Airport. Two existing hotels on the parcel are expected to be demolished to make way for the LEED Gold-targeted project. Completion is …

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Bonsai-Apartments-DC
BerkadiaFinanceNewsNortheastWashington, D.C.

Berkadia Arranges $9.5 Million Refinancing for July Residential’s Bonsai Apartments in D.C.

by Lynn Peisner

WASHINGTON, D.C. — Berkadia has arranged a $9.5 million refinancing loan for July Residential’s Bonsai Apartments, a newly constructed, 41-unit community in Washington, D.C.’s H Street corridor. The lender was Revere Capital, which provided a two-year floating-rate loan. Berkadia’s Mitch Sinberg, Matt Robbins, Scott Wadler and Brad Williamson of Berkadia Boca Raton and Miami, alongside Brian Gould of Berkadia D.C. Metro, arranged the financing. The transaction closed on Dec. 29. July Residential is headquartered in New York City with offices in Washington, D.C., and Boca Raton, Florida. The owner-operator’s portfolio …

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The-Bellevue-Hyattsville
DevelopmentMarylandNewsNortheastOperationsWashington, D.C.

EJF Capital Completes The Bellevue in Hyattsville, Maryland

by Lynn Peisner

HYATTSVILLE, MD. — EJF Capital has completed construction of The Bellevue, a 361-unit community in Hyattsville, about 7 miles northwest of Washington, D.C. The Opportunity Zone project was developed in partnership with The NRP Group. The Bellevue features studios, one-, two- and three-bedroom floor plans. Amenities include a fitness center, a coworking lounge, landscaped courtyards and structured parking.

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Wholey-Legacy-Homes-Arlington
Affordable HousingDevelopmentNewsNortheastVirginiaWashington, D.C.

True Ground Housing Partners Opens D.C. Metro Affordable Housing Redevelopment

by Lynn Peisner

ARLINGTON, VA. — True Ground Housing Partners, formerly known as APAH, has opened Wholey Legacy Homes in the Washington, D.C., metro city of Arlington. The project was a redevelopment of a 1-acre portion of the Marbella Apartments site, formerly home to 31 units. The new Wholey Legacy Homes replaces that property and includes 234 units throughout a new 12-story building. The community is located in Arlington’s Rosslyn neighborhood. Wholey Legacy Homes houses 84 one-bedroom, 100 two-bedroom and 50 three-bedroom apartments. The 148,500-square-foot building also features 110 underground parking spaces, an …

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Leasing & MarketingNewsOperationsTexasWashington, D.C.

Justice Department, RealPage Settle Lawsuit Over Use of Revenue Management Software in Apartment Rental Pricing

by Lynn Peisner

RICHARDSON, TEXAS — The U.S. Justice Department’s Antitrust Division has reached a settlement with RealPage Inc. as part of its ongoing enforcement against algorithmic coordination, information sharing and other anticompetitive practices in rental housing markets across the country, according to details disclosed in a North Carolina federal court on Monday. The proposed consent judgment, which still requires court approval before it can be implemented, would help restore free market competition in rental markets for millions of American renters, the Justice Department stated in a press release. “Competing companies must make …

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Fairstead-Alexandria
Affordable HousingDevelopmentNewsNortheastWashington, D.C.

Fairstead Breaks Ground on $120 Million Adaptive Reuse Project in Metro D.C.

by Lynn Peisner

ALEXANDRIA, VA. — Fairstead has broken ground on an affordable housing adaptive reuse project in the Washington, D.C., suburb of Alexandria. On the site of Samuel Madden Homes, originally built to house African American defense workers during World War II, the company will build 207 residences, ranging from one- to four-bedroom units, reserved for families earning 30 to 80 percent of area median income as well as a new community food bank. Completion is slated for fall 2027. Financial partners include permanent and construction lenders Boston Financial, Freddie Mac and …

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Woodbury-Park-Arlington
Affordable HousingMarylandNewsNortheastOperationsWashington, D.C.

CAPREIT Tapped to Manage 21 Mid-Atlantic Affordable Housing Properties

by Lynn Peisner

BETHESDA, MD. — CAPREIT has been selected by Affordable Homes & Communities (AHC) to manage 21 properties, comprised of 3,019 units, in Maryland, Virginia and Washington, D.C. AHC is a developer of affordable and mixed-income communities. Bethesda-based CAPREIT owns and operates approximately 14,000 units of its own and is actively growing its third-party management business, according to a statement from the company.

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