KeyBank Provides $94M Refi for 390-Unit Apartment Community in Tysons Corner
NRP Group and PointOne Holdings opened The Rylan in 2023
By Brian Pascus August 13, 2024 1:44 pm
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NRP Group has secured $94.3 million to refinance its existing debt on The Rylan, a 390-unit luxury apartment complex that opened last year in Tysons Corner, Va.
Keybank (KEY) Real Estate Capital (KBREC) — a subsidiary of KeyBank — provided the non-recourse, fixed-rate loan that will be securitized through Freddie Mac (FMCC). The loan carries a five-year term with an option for interest-only payments after three years.
KBREC’s team of Rob Garrison and Anthony Tavrell arranged the financing.
Located at 1768 Old Meadow Road — directly off Interstate 495 connecting Northern Virginia to Washington, D.C. — The Rylan opened in 2023. Built by NRP Group in combination with PointOne Holdings, the building is five stories and the greater rental community includes amenities such as a fitness room, an infinity pool, a game room and jogging paths.
NRP Group did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com
