May 16, 2018
A joint venture involving Lincoln Property Company secured $95.5 million in acquisition financing for Meridian at Carlyle, a 16-story, 403-unit apartment building in Alexandria, VA. HFF worked on behalf of the borrower to place the five-year, floating-rate loan with MetLife Investment Management.
Lincoln’s Jarl Bliss says, “The soon-to-be ‘Lincoln at Old Town’ represents an opportunity to reposition a high-rise multifamily community in an attractive, transit-oriented location, with the ability to create value through execution of interior unit renovations and common area amenity upgrades.”
Meridian at Carlyle is located at 401 Holland Ln. in Alexandria’s Carlyle neighborhood. The property features units that average 779 square feet, and has three levels of below-grade parking. Amenities include a resort-style pool, barbecue area, putting green, fitness center, club room with billiards, concierge service and on-site dry cleaning service.
HFF’s debt placement team representing the borrower included Steven Klein and Cary Abod.
For comments, questions or concerns, please contact Dennis Kaiser