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MXD Lands $217M Construction Financing

LEESBURG, VA-Cypress Equities, Kettler and the Carlyle Group team to develop the Village at Leesburg, a 1.2-million-sf residential, retail, and office complex here.

By Erika Morphy | Updated on April 25, 2008

LEESBURG, VA-Developers for a 1.2-million-sf mixed-use project here have closed on $217-million construction financing. Cypress Equities, the development affiliate of the Staubach Co., Washington, DC-based Kettler, and private equity firm Carlyle Group, closed loan proceeds for the Village at Leesburg project. Several national and local financial institutions are funding the project. Sovereign Bank is the administrative agent for these finance providers.

Located at Route 7 and Crosstrail Boulevard, the Village at Leesburg will be a vertically-integrated, four-story development. The developers started work on the infrastructure in May 2007, according to a spokesperson for Cypress Equities.

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