News
Good Work(s)
July 9, 2014
Arlington-based not-for-profit AHC Inc. (with the firm’s Alan Goldstein and John Welsh, on the right) recently acquired the 280-unit Serrano Apartments on Columbia Pike for $58M, Bisnow has learned. The acquisition preserves 196 workforce and affordable housing units and was achieved through an innovative financial partnership with Arlington County and its Low Income Investment Fund (LIIF). Senior debt for the acquisition came from a Freddie Mac loan through Walker & Dunlop (the lender’s Chris Davis and Dave Redmond on the left), who tell us they hope this financing structure can be replicated to preserve additional affordable housing in the high-cost DC metro area.
