NORTH BETHESDA, MD. — JLL Capital Markets has arranged a $92.3 million loan to construct a 354-unit, 12-story project in the Washington, D.C. suburb of North Bethesda. The development is dubbed Parcel H and is located at at 5400 McGrath Blvd. Jon Mikula, Jim Cadranell, Jamie Leachman and Ryan Carroll of JLL Capital Markets arranged the four-year, floating-rate loan through SMBC on behalf of the borrower, LCOR.
Upon completion, the community will offer one-, two- and three-bedroom units, as well as nine penthouse units. Units average 881 square feet in size. Amenities will include a fitness center, outdoor pool, courtyard with grilling stations and fire pits, resident lounge with coworking spaces, children’s playrooms, a dog park and a penthouse lounge with gaming areas and a golf simulator.
Parcel H represents the final property within The Quad, a four-property portfolio of apartment communities in North Bethesda built by LCOR. The other three properties include Wentworth House (built in 2008), Aurora (2014) and Arrowood (2021). Together, The Quad will total 1,300 adjacent apartments and operated by LCOR.