Fairfax property lines up $63.17 million in financing

Virginia Business //June 6, 2019//

Virginia Business // June 6, 2019//

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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.

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