REBusinessOnline

DEUTSCHE BANK SECURES $51 MILLION FOR VIRGINIA APARTMENT

FALLS CHURCH, VA. — Deutsche Bank Berkshire Mortgage has arranged a $51 million loan for the 493-unit Fairfield Crossing apartment complex in Falls Church. Financing for the 7-year, interest-only loan, which was funded to 59 percent of value, was provided by Freddie Mac. The 43-year-old property was renovated in 1991 and includes a pool, a fitness center, a jogging trail and tennis courts.

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