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Is It Me or Are Construction Loans Getting Bigger?

WASHINGTON, DC—It is a coincidence that there has been a spate of larger-than-usual construction loans for DC-area projects, HFF's Walter Coker tells GlobeSt.com's Erika Morphy.

By Erika Morphy | Updated on July 24, 2014

WASHINGTON, DC—Last week HFF reported that it secured $95 million in financing for the development of BLVD at Reston Station on behalf of Comstock Partners. HFF’s Walter Coker and Brian Crivella placed the 48-month construction loan with Citizens Bank.

To be sure, the 21-story, 448-unit, luxury apartment building is a significant, even signature, project for the DC area. It will be located atop the entrance of the Wiehle-Reston East Metro Station in Reston, VA–the last stop on Phase I of the new Silver Line. The building will be the inaugural phase of the Reston Station mixed-use development that will include 550,000 square feet of office space, a 200-room hotel and another multi-family residential building.

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