McClean, VA $10,750,000 ~1.1 acre, ~301,000 Sq. Ft. buildable Development Site Refinance

Knighthead provided a $10.75mm first mortgage loan secured by an ~1.10 acre +/- redevelopment, fully approved for a ~301,000 sf, 23-story mixed-use building comprised of 244 rental units, ground floor retail and underground parking. The loan was underwritten to a ~72% “as-is” value.