Affinius Capital announced the closing of a $97.9 million loan for the refinancing of The Lydian, a 14-story, multifamily property in Washington, D.C.’s Mount Vernon Triangle submarket.
Built in 2018, the property comprises 324 apartment units and 13,551 square feet of ground-floor retail. The loan was made to a joint venture that includes affiliates of Quadrangle Development Corporation and The Wilkes Company. The financing was arranged by Chris Hew and Susan Carras of JLL.
“Mount Vernon Triangle has evolved into a highly desirable residential neighborhood with strong access to employment, transit, and amenities throughout Washington, D.C.,” said Affinius Capital Managing Director Costa Kontoulis. “The Lydian is a well-located, high-quality asset with experienced ownership, and we believe those characteristics make it an attractive lending opportunity for Affinius Capital while also establishing an important new relationship with Quadrangle Development Corporation and The Wilkes Company.”
The property’s amenities include a fitness center, an indoor and outdoor penthouse community space, and a resort-style rooftop pool.
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