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JOHNSON CAPITAL SECURES $36 MILLION LOAN FOR APARTMENT BUILDING

FALLS CHURCH, VA. — John DeWitt and Martin Fayer of Johnson Capital’s Washington, D.C. office have arranged $36 million in financing for Prestwick Apartments, a 310-unit, mid-rise building in Falls Church, on behalf of a Boston-based investor. The loan is structured as a 7-year fixed-to-float loan through Freddie Mac’s Acquisition-Rehab program at a 5.8 percent interest rate. The building is situated on 14 acres, and will undergo a renovation to include a state-of-the-art athletic center, swimming pool and tennis courts.

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