Tailored Construction Financing Ensures New 402 Unit Residential Development will become a reality on the Occoquan River in Woodbridge, VA.

The Greenwich Group International has announced that it has secured $73.8 million in construction financing for the development of Rivergate Phase I, a 402-unit Class-A residential apartment building to be developed along the scenic Occoquan River in Woodbridge, VA.

Greenwich was the exclusive advisor on behalf of the developer, The IDI Group Companies, in successfully securing a $60.3 million senior construction loan, and $13.5 million in subordinate mezzanine construction financing. John Moriarty & Associates, the general contractor, commenced construction on August 1, 2016, and the property is scheduled to deliver and begin leasing in February 2018.

Rivergate is strategically located at the heart of the I-95 and Route 1 corridor in Woodbridge, VA within a 20-minute drive from downtown Washington DC, and the nearby major employment centers of Fort Belvoir and Quantico. The property is adjacent to the Occoquan Harbour Marina, and will offer residents unsurpassed views of the marina and surrounding area from its rooftop terrace.

The Greenwich team representing the developer was led by Peter Witham and Duke Fairchild.

“Rivergate will be a truly unique offering for the residents of Northern Virginia, in that it will be one of a mere handful of Class-A residential rental communities in the entire DC Metro area that will offer direct access to the water and the lifestyle that coincides with it, but at a price-point that is affordable to the majority of households in the DC area. Having recently worked on other large-scale, transformative, waterfront developments such as The Wharf in Washington, DC, our team was excited to bring our experience into what we hope will be a similarly transformative project in catalyzing future development within the North Woodbridge Master Zoning Plan along the Occoquan River ” said Witham and Fairchild.

ABOUT THE GREENWICH GROUP INTERNATIONAL:

The Greenwich Group International is a leading real estate capital advisory firm headquartered in New York and offices in Washington, DC, San Francisco and Los Angeles. Its main focus centers around all aspects of real estate investment capital.  The firm offers four main business lines: Capital Markets (Debt & Equity Placement), Investment Banking and Structured Finance, Investment Sales and Development Services.

For more information, please contact:

Alla Torres

Marketing and Public Relations

alla.torres@greenwichgrp.com

703 525 8300 Ext. 7

ABOUT THE IDI GROUP COMPANIES:

IDI has been building landmarks in the Washington metro region for 40 years. Our portfolio includes over 12,000 condominiums, 2.7 million sq. ft. of commercial office and retail space, 1,400 hotel rooms, 1,000 single family homes, and 2,400 acres of land development for residential construction. IDI pioneered the development of active adult living with the “Leisure World” communities in Maryland and Virginia, and is an industry leader with its conversion of over 3,000 high-rise and garden units into workforce affordable homes. We approach each development opportunity with a commitment to excellence and a focus on our core principles of integrity, vision, innovation and quality.

For more information about The IDI Group Companies, visit www.idigroup.com.