VIENNA, VA — Holliday Fenoglio Fowler, L.P. (HFF) announces $156.2 million in financing for Modera Avenir Place, a best-in-class residential property in Vienna.
The HFF team worked on behalf of the borrower, a joint venture between Mill Creek Residential Trust LLC and institutional investors advised by J.P. Morgan Asset Management, to secure the floating-rate loan with MetLife Investment Management. Loan proceeds were used to retire existing construction financing.
Modera Avenir Place is situated at the intersection of Prosperity Avenue and Gallows Rd. adjacent to the Shops at Avenir Place and Interstate 66. The transit-oriented community is adjacent to the Dunn Loring-Merrifield Metrorail station (Orange Line) and numerous major thoroughfares that provide accessibility to the entire D.C. metropolitan area. Modera Avenir Place, a grocery-anchored mixed-use development, was completed in two phases in 2013 and 2015.