Fairfax property lines up $63.17 million in financing
A Fairfax County multifamily property has lined up new financing.
Berkadia announced on Wednesday $63.17 million in financing for a multifamily property in Falls Church called PeachTree of McLean at 2042 Peach Orchard Drive.
Jonathan Pratt, a Berkadia director in Washington, D.C., secured the loan on behalf of Virginia-based Erkiletian Cos. The deal closed May 31.
Erkiletian plans to improve the property’s water and energy efficiency by 30%.
PeachTree has one-, two- and three-bedroom units. The property is near Tysons Center, Route 7, and interstates 66 and 495.