Greenwich Group Arranges $73.8M Construction Financing for Apartment Development in Metro D.C.

by John Nelson

WOODBRIDGE, VA. — The Greenwich Group International has arranged $73.8 million in construction financing for the development of Rivergate Phase I, a 402-unit, Class A residential apartment building to be developed along the Occoquan River in Woodbridge, a Virginia suburb of Washington, D.C. Peter Witham and Duke Fairchild led the Greenwich team representing the developer, The IDI Group Cos., in securing a $60.3 million senior construction loan and $13.5 million in subordinate mezzanine construction financing. John Moriarty & Associates, the general contractor, commenced construction on Aug. 1 and the property is scheduled to deliver and begin leasing in February 2018.

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