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Howard Hughes Corp. Secures $83M Loan for Maryland Apartments The community in Columbia, Md., will be part of a 14 million-square-foot master-planned development called the Merriweather District. May142021 Image courtesy of JLL Capital Markets Howard Hughes Corp. has secured an $82.6 million construction loan to begin developing Marlow Apartments, a 472-unit community in downtown Columbia, Md. JLL Capital Markets worked on behalf of an affiliate of the company to secure the floating rate loan for a four-year initial term with a one-year extension. The property will be built at 6200 Valencia Lane and will feature studio, one-, two- and three-bedroom apartments. In addition, eight lofts offering two-story layouts will be part of the development. The Marlow’s 510,181 rentable square feet will include 32,340 square feet of retail on the ground floor. ....
LCOR Secures $135M Refi for Virginia Community The property is located across from Amazon’s HQ2 development in the Crystal City neighborhood of Arlington. Mar022021 Image courtesy of JLL LCOR has received a $135 million refinance loan for Altaire, its apartment community in Arlington, Va., located across the street from Amazon’s HQ2 development. JLL’s Jamie Leachman and Paul Spellman arranged the five-year-floating-rate loan for LCOR. The new loan from an undisclosed lender replaces a previous construction loan provided by Wells Fargo Bank from December 2015, according to Yardi Matrix data. The 451-unit Altaire offers studios, one- and two-bedroom floorplans that range in size from 540 to 1,295 square feet. All the units were built with keyless entry while some units feature double vanities and stand-alone showers in the bathrooms. The community’s amenities include a sky lounge, rooftop terrace, fitness center, courtyard, swimming ....