ALEXANDRIA APT. PROJECT SECURES NEARLY $50M IN FINANCING

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ALEXANDRIA, VA. — MAC Realty Advisors has arranged nearly $50 million in financing for the development of Braddock Metro Place, a 165-unit apartment community in Alexandria. JW Capital Partners and its local partner plans to break ground on the 10-story property near the Braddock Metro Station this quarter. John Moriarty & Associates will serve as the general contractor. Andrew McAllister, Bruce Levin and Caren Garfield led the MAC Realty team that secured $18.6 million from an insurance company and an additional $29.2 million in senior construction-to-permanent financing from a life insurance company.

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