RESTON, VA – Comstock Holding Cos. Inc.'s capital markets group has arranged a $73 million dollar loan with Freddie Mac for a luxury apartment tower in Reston, VA. The apartment building, BLVD I, is situated in the center of Comstock's Reston Station development.
Comstock subsidiary, Comstock Real Estate Services LC, arranged the non-recourse construction take-out loan on behalf of one of Comstock's managed companies, CRS BLVD I LC. The Freddie Mac loan, which has a 10-year term and a 3% annual interest rate, replaces the maturing construction loan, originally provided by Citizens Bank.
Developed by Comstock, the 448-unit tower is located at 1908 Reston Metro Plaza, near the north entrance of Wiehle-Reston East Metro Station along Metro's Silver Line.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
