Berkadia Provides $84M Refi for Northern Virginia Multifamily Property
The 10-year loan will retire the existing first-mortgage debt on the 369-unit Alexandria complex and return equity to sponsorship
By Brian Pascus October 8, 2025 11:46 am
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Paradigm Development has secured $84.1 million to refinance Meridian at Eisenhower Station, a 369-unit mixed-use multifamily property in Alexandria, Va., Commercial Observer has learned.
Berkadia provided the 10-year loan proceeds that will retire the existing first-mortgage debt and simultaneously return equity to the sponsorship. Berkadia’s Patrick McGlohn, Brian Gould, Hunter Wood and Natalie Hershey arranged the financing.
McGlohn said in a statement that the financing structure provides for “long-term stability” while allowing Paradigm Development to invest in renovations.
“Meridian at Eisenhower Station is a premier community in a thriving submarket,” said McGlohn.
Located at 2351 Eisenhower Avenue, the complex opened in 2007 and features units ranging from studios to three-bedroom apartments. Amenities within the property include a rooftop swimming pool and sun deck, a fitness center, a clubroom, a landscaped courtyard and 444 parking spaces. The building is 88 percent occupied and includes 15 affordable housing units.
The property features 10,200 square feet of ground-floor retail space spread across three tenants.
Brian Pascus can be reached at bpascus@commercialobserver.com.
