Grandbridge Secures $32M Refinancing of New Apartment Community in D.C.
WASHINGTON, D.C. — Grandbridge Real Estate Capital has secured a $32 million loan for the refinancing of Reed Row Apartments, a newly developed, 132-unit apartment community in Washington, D.C.’s Adams Morgan neighborhood. Phillip Cox and Bill Mattice of Grandbridge arranged the 10-year, interest-only loan through a correspondent insurance company. The name of the borrower was not disclosed, but according to local media reports, Kettler, a Virginia-based multifamily developer and property manager, developed the property this year. Reed Row features a private courtyard, outdoor chess table and fire pit, coworking space, fitness center, bike room, dog washing station and a rooftop terrace.