WASHINGTON D.C. – Toll Brothers Inc., through its Toll Brothers Apartment Living rental division, and CrossHarbor Capital Partners have formed a joint-venture partnership to develop a 501-unit multifamily community in Washington D.C.
The project is being financed by a $162.7 million construction loan facility from Bank OZK. The debt and equity were arranged by Toll Brothers' in-house finance department.
Located at 113 Potomac Ave. SW within the Capitol Riverfront Business Improvement district's Buzzard Point neighborhood, the Opportunity Zone development will feature 460 market-rate units, 41 affordable units, 37,000 square feet of retail and below-grade garage parking. 113 Potomac will offer luxury finishes and amenities, such as a state-of-the-art fitness center, a rooftop resort-style pool, a clubhouse and lounge, a coffee bar, co-working space and a pet spa.
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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.
