Columbus-Based Red Finances $41.2M Fannie Mae Loan for Apartment Community in Virginia

COLUMBUS—Red Mortgage Capital LLC recently processed and funded approximately $41 million of Fannie Mae DUS financing for Dwell Vienna Metro Apartments, a 250-unit multifamily community in Fairfax, Va. The loan was structured as 10-year fixed rate debt.

Built in 2008, Dwell Vienna Metro Apartments includes 106 one-bedroom and 144 two-bedroom units plus a two-level, underground parking garage.

Located in western Fairfax County approximately 13 miles west of Washington, DC, the property is within walking distance to the Vienna Metro Station.

Apartments have large floor plans and high-end finishes. Acquired in 2011 by Richmond Heights-based Associated Estate Realty Corporation, Dwell Vienna Metro Apartments was originally constructed as for-sale condominiums.

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