Redbrick LMD Secures $129M Refi of NoVA Multifamily Community
he developer acquired the 752-unit property in a larger multifamily deal in 2015
By Nick Trombola May 8, 2025 3:35 pm
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Activity in Northern Virginia’s multifamily market is white hot, and a new nine-figure financing package toward a sprawling complex in Fairfax will keep the temperature up.
Washington, D.C.-based developer Redbrick LMD secured a $129.4 million refinancing package tied to Amberleigh Apartments, a 752-unit, garden-style community at 8301 Anderson Drive. Berkadia originated a $113.8 million Freddie Mac loan, while an undisclosed lender provided a $15.6 million preferred equity investment. A spokesperson for Berkadia declined to provide more information about the equity provider.
Berkadia’s Brian Gould, Patrick McGlohn, Miles Drinkwalter and Natalie Hershey led the financing efforts.
“We are pleased to finance our apartment community with a Freddie Mac loan, and to help address the need for more workforce housing in this area,” William Passmore, Redbrick LMD managing partner, said in a statement.
Ownership of the apartment campus and the land beneath it is a bit complicated. Redbrick acquired the apartments in 2015 as part of a larger $488 million deal, which also included two other multifamily properties in Northern Virginia, for a combined portfolio of 2,175 units. Redbrick financed that acquisition via a $402 million Fannie Mae loan.
In 2022, Falls Church, Va.-based Inova Health System purchased 35 acres directly north of its flagship hospital, Inova Fairfax Medical Campus, for $136 million — including the land for the Amberleigh Apartments, but not the development.
Redbrick’s refi package for Amberleigh Apartments adds to other high-dollar multifamily deals happening in the region lately.
Last month, American Real Estate Partners, GreenBarn Investment Group and Rithm Capital, for example, landed an $89.2 million refinancing loan toward CityHouse Ashburn Station, a 200-unit townhome complex in Ashburn, Va. A few months prior, Boston-based DSF Group paid $237 million for the 678-unit Town Square at Mark Center community in Alexandria. M&T Realty Capital provided DSF with a $165.9 million loan toward the purchase, Commercial Observer reported.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
