Eastgate Apartments

Annandale, VA

Multifamily - Construction

Eastgate Apartments

MULTIFAMILY - CONSTRUCTION

ACRES Capital has provided a $95.0 million loan to finance the construction of Eastgate Apartments, a Class A mid/high-rise multifamily development located in Annandale, VA.

The Property consists of:

• 272 apartment units
• 9,600 square feet of ground-floor retail
• Structured parking garage with 427 parking spaces.
• The retail component of the project will be anchored by The Block Food Hall, along with additional restaurant tenants

$95 Million

Loan Amount

Construction Loan

Loan Product

“Eastgate Apartments represents a high-quality development in a severely supply-constrained submarket with strong long-term fundamentals. The Property’s central location in Annandale, proximity to major employment centers, and best-in-class design and amenities position it to meet significant pent-up demand for new multifamily housing in Northern Virginia. This transaction benefits from our partnership with a well-capitalized and experienced sponsor group.”

- Mark Fogel

Chief Executive Officer and President of ACRES

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.