**Northmarq Secures $141.73M for Maryland Luxury High-Rise Portfolio**
Northmarq has arranged $141.73 million in financing for a portfolio of two luxury high-rise apartment communities, totaling 493 units, located in the Washington, D.C. metro area.
The financing deal was structured by Northmarq’s Washington, D.C.-based Debt + Equity team, led by Jason Smith and Kenneth Gentzel, on behalf of Washington Property Company — a well-known regional developer and property owner.
The financed properties include:
– **Solaire 7607 Old Georgetown**: A newly delivered, 22-story, 198-unit residential tower located in Bethesda. The development offers one- and two-bedroom units and is situated near the Bethesda Metro Station with easy access to the shops and restaurants of Bethesda Row.
– **Solaire 1150 Ripley**: A 16-story, 295-unit apartment community delivered in 2012, located in the heart of downtown Silver Spring. The building features studio, one-, and two-bedroom units.
Both properties are located in high-demand, transit-oriented submarkets and offer a wide range of modern amenities catering to luxury renters.
“This transaction reflects the strength of institutional capital’s appetite for core multifamily product in high-barrier, Metro-served submarkets,” said Jason Smith of Northmarq.
The successful financing reflects continued investor interest in well-located, high-quality multifamily assets in the greater D.C. region.
