WC Smith has secured $119.7 million in financing for two Washington, D.C., multifamily assets: Crest at Skyland Town Center, $67.2 million, and The Albemarle, $52.5 million.
The Walker & Dunlop Capital Markets Real Estate Finance team arranged the loans with capital from Fannie Mae and Freddie Mac.
Crest at Skyland Town Center, located at 2219 Town Center Drive SE, is a 263-unit class A mixed-use, multifamily asset with ground-floor retail. Crest at Skyland Town Center marked the first new market-rate apartment development delivered east of the Anacostia River in more than 40 years and is part of Skyland Town Center. The project is driving new retail, housing and community investment in the submarket.
The Albemarle, located at 4501 Connecticut Ave. NW, is a 235-unit rent-controlled, class B high-rise multifamily asset built in 1958 and renovated in 2021. The Albemarle is located in the Forest Hills neighborhood, offering access to the Va
