Capital One Closes $14.5M Refinancing of Apartment Community in Metro D.C.

ARLINGTON, VA. — Capital One has provided a $14.5 million Fannie Mae loan to refinance Fields of Arlington, a 199-unit, mid-rise affordable housing community in Arlington, a Northern Virginia suburb of Washington, D.C. The apartment community features a clubhouse, barbecue grills and picnic areas and an outdoor swimming pool. The property is almost wholly dedicated to affordable housing, with 79.9 percent of units reserved for tenants whose income is 60 percent or less of the area median income (AMI) and 15.1 percent reserved for tenants whose income is 50 percent or less of AMI. Only 5 percent of the apartments are unrestricted. Sadhvi Subramanian and Michael Antonelli of Capital One Multifamily Finance originated the loan on behalf of the borrower, Kettler, the largest developer of affordable multifamily housing in the area.