TYSONS, VA–The Meridian Group has secured a $22.9 million mezzanine loan to finance the development of a 25-story, 140-unit luxury condo that is currently under development at The Boro, its 15-acre, 4-million square foot project here.
Los Angeles-based Canyon Partners Real Estate provided the financing for the condo, which Meridian is calling Verse. Verse is the first substantial condominium development in Tysons since One Park Crest delivered in 2008. “With this project, we hope to provide the community with a best-in-class product to meet the growing and pent-up demand for modern, luxury condominiums in Tysons, Meridian Group CIO Gary Block said in a prepared statement.
The project is expected to deliver in late 2019.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
