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GERMANTOWN, MD-Financing for two condominium properties—one here and the other in Herndon, VA--has closed, providing the borrower with an aggregate $203 million. The condominium developments feature a total of nearly 1,000 residences.

California Savings Bank supplied the funds for developer Fairfield Residential, which sought the loans as bridge financing for the multifamily properties. At 13500 Carlow Point Circle in Germantown, Fairfield developed the 404-unit resort-style community Ashmore at Germantown for which it received a $76-million loan.

In Herndon at 12950 Centre Park Circle, the borrower secured a $127-million loan for its 584-unit Bryson at Woodland Park, which features 584 units in 12 buildings within a gated complex. Remarking on the significance of the two properties in the Washington area markets of Suburban Maryland and Northern Virginia, chief lending officer Richard Caldwell says California Savings Bank continues "to seek loan opportunities for well-located commercial real estate in selected West Coast and national markets."