Berkadia, a distinguished leader in the commercial real estate sector, announced the successful refinancing of Amberleigh Apartments, a 752-unit, garden-style, multifamily community located in Fairfax, Virginia.
On behalf of the Sponsor, Redbrick LMD, Berkadia DC Metro secured a $129.4 million financing package, consisting of a $113.8 million Freddie Mac loan and a $15.6 million preferred equity investment from an undisclosed provider.
The financing efforts for Amberleigh Apartments were led by Senior Managing Director Patrick McGlohn, Managing Director Brian Gould, Senior Director Miles Drinkwalter and Associate Director Natalie Hershey.
“We were pleased to source a compelling refinancing solution for Redbrick LMD with the combination of a long-term agency loan alongside a preferred equity investment,” said Gould. “We extend our gratitude to the Redbrick LMD team for their trust and collaboration and are pleased to have worked with them on another successful financing.”
Based in Washington D.C., Redbrick LMD is a diversified real estate investment management and development firm focusing on proprietary, large-scale, institutional quality assets. One of the largest private landowners in the District, Redbrick has a build-to-core development pipeline of approximately eight million square feet as well as a comparable amount of early-stage development located across the country.
“We are pleased to finance our apartment community with a Freddie Mac loan, and to help address the need for more workforce housing in this area,” added William Passmore, Managing Partner at Redbrick LMD. “The Berkadia team did an excellent job navigating a choppy capital market environment and lined up a very attractive financing outcome.”
Located in the Merrifield submarket of Fairfax, Virginia, the Amberleigh multifamily community is strategically positioned just outside Washington D.C.’s Capital Beltway, offering unparalleled access to Northern Virginia’s Growth Corridor. Amberleigh offers a variety of units with top-notch amenities, including private balconies, a fitness center, a swimming pool, and a clubhouse. Its proximity to the Dunn Loring-Merrifield Metro Station, Tysons Corner, and the Mosaic District ensures convenient access to top employers, award-winning schools, and premier dining and retail options. Additionally, Amberleigh is adjacent to Inova Fairfax Hospital, Virginia’s #1 ranked hospital, further enhancing its appeal.
