JLL secures capital for development of Sorrento in the Washington, DC metro
RESTON, VA — JLL has secured capital for the development of Sorrento, a 306-unit multi-housing community in Reston. JLL worked on behalf of Woodfield Development to secure a construction loan through PCCP, LLC and joint venture equity from German American Realty. Sorrento is located at 1950 Roland Clarke Place along the Dulles Toll Rd. The transit-oriented community will be situated within walking distance of the existing Wiehle-Reston East Metro Station and the future Reston Town Center Metro Station. Due for completion in 2021, Sorrento is being developed in an area that is being transformed into a walkable, tree-lined residential enclave in the heart of Reston that also offers easy access to the area’s 31.2 million s/f of office space and multiple retail amenities, as well as Washington, D.C. Units will include a mix of 316 studio, one- and two-bedroom floor plans averaging 800 s/f, 37 of which will be designated as workforce housing. The community will feature a rooftop, resort-style swimming pool with sunning shelf and lounging deck; a seventh-floor sky lounge with indoor bar and outdoor space; state-of-the-art fitness center; landscaped courtyards with grills and fire pits; outdoor garden park; clubroom with bar, fireplace and game room; and dog park and dog spa.