Ox Hill Companies has secured a $31 million acquisition financing deal for the purchase of City Centre West and an office asset in Fairfax, Virginia. The 1.78-acre site will undergo a transformation into residential and commercial condos, alongside an occupied office building.
The property is entitled to 210,472 square feet of luxury residential condos and 48,911 square feet of commercial space. Construction is scheduled to commence in the first half of 2024. In addition to this development project, Ox Hill also acquired a nearby office building at 4031 University Drive spanning over 47,879 square feet.
Gary Sefcik from Marcus & Millichap Capital Corporation successfully secured the two-year interest-only financing for the borrower using his expertise in real estate finance.
The article “Ox Hill Lands $31M for Fairfax Mixed-Use Development” was originally published on Connect CRE website.
