COLUMBIA, MD. — JLL has arranged an $82.6 million construction loan for the development of Marlow, a 472-unit apartment community with 32,340 square feet of ground-floor retail space located in downtown Columbia. Mark Gibson, Jamie Leachman, Drake Greer and Jackson Cabot of JLL secured the floating-rate construction loan on behalf of the borrower, an affiliate of The Howard Hughes Corp. The four-year loan includes a one-year extension option.
Located at 6200 Valencia Lane, Marlow will total 510,181 rentable square feet and include studio, one-, two- and three-bedroom floorplans, in addition to eight loft units with two-story layouts. Initial delivery of the apartments is expected in fall 2022.
The Marlow will be part of Merriweather District, Howard Hughes Corp.’s 14 million-square-foot master-planned development. Merriweather District will total 2.3 million square feet of office space; 320,000 square feet of retail space; 1,900 multifamily units; a 250-room hotel, community pavilion; and about 60 acres of open space. The Merriweather District features Symphony Woods, a 40-acre parkland area, and Merriweather Post Pavilion, a music and community venue.