Affinius Capital has closed a $97.9 million refinancing loan secured by The Lydian, a 14-story multifamily property in Washington, D.C.’s Mount Vernon Triangle submarket. The new financing recapitalizes the asset for the borrowing entity, a joint venture that includes affiliates of Quadrangle Development Corporation and The Wilkes Company.
Delivered in 2018, The Lydian is a relatively new residential community offering 324 apartment units. The property also features 13,551 square feet of ground-floor retail space, positioning it as a mixed-use asset within a rapidly evolving urban neighborhood. The combination of residential and retail space places the building in a walkable environment that serves both residents and surrounding businesses.
Affinius Capital originated the refinancing loan directly to the joint venture. The financing was arranged by JLL, with Chris Hew and Susan Carras leading the assignment for the intermediary. Their role focused on sourcing and structuring the debt package that enabled the ownership group to refinance the existing capital stack on the property.
In a statement accompanying the announcement, Affinius Capital Managing Director Costa Kontoulis highlighted the broader neighborhood dynamics supporting the transaction. He noted that Mount Vernon Triangle has developed into a highly desirable residential area with strong access to employment centers, public transit options, and a range of amenities across Washington, D.C. Kontoulis described The Lydian as a well-located, high-quality multifamily asset backed by experienced sponsorship.
Kontoulis also indicated that the refinancing not only reflects Affinius Capital’s view of the property’s fundamentals, but also marks the establishment of a new lending relationship with Quadrangle Development Corporation and The Wilkes Company. The alignment of a seasoned lender with a joint venture involving long-standing local firms underscores the institutional interest in stabilized multifamily product in this part of the city.
The Lydian offers a suite of amenities aimed at residents seeking modern urban living. On-site features include a fitness center and an indoor and outdoor penthouse-level community space designed for socializing and relaxation. The property also provides a resort-style rooftop pool, giving residents access to outdoor recreational space and skyline views.
With its combination of recently built residential units, street-level retail, and amenity offerings, The Lydian stands as a notable multifamily asset in Mount Vernon Triangle. The completion of this refinancing demonstrates continued lender engagement with well-located, institutionally sponsored multifamily properties in Washington, D.C., supported by favorable neighborhood fundamentals and established capital relationships.
