Holliday Fenoglio Fowler has arranged construction financing and joint venture equity totaling $65.44 million for the development of The Stella, a 282-unit, transit-oriented multi-housing community located within a designated opportunity zone in New Carrollton, Md.
HFF worked on behalf of the developer, Urban Atlantic, to secure a $46.56 million construction loan through TD Bank and $18.88 million in joint venture equity from Bridge Investment Group.
The Stella is located at 3950 Garden City Drive at the New Carrollton Metro Station, which is the terminus of the Orange and Purple lines. Less than five miles outside of Washington, D.C., the opportunity zone project is the second phase of Urban Atlantic’s 34-acre, 2.3 million-square-foot New Carrollton Metro redevelopment and will serve as the first multi-housing asset wit
