March 25, 2019
A $89.94 million construction loan was secured for Faraday Park at Reston Station – East and West, a soon-to-be-built 407-unit mixed-use property in Reston, VA. Berkadia’s J. Tyler Blue, Paul Wallace, Jimmy Meadows arranged the loan from CapitalOne, on behalf of the unnamed borrower.
Faraday Park at Reston Station – East and West is essential to the coordinated transformation of approximately 30 acres of land. The area will evolve from existing low-rise offices surface parking lots into a vibrant, walkable transit-oriented community.
The West Parcel, located at 1831 Michael Faraday Dr., will contain 242 units and 9,748 square-feet of retail space. The East Parcel, located at 11111 Sunset Hills Rd., will contain 165 units and is expected to deliver in late 2020.
For comments, questions or concerns, please contact Dennis Kaiser