JLJ Capital Provides $ 12.75 Million Bridge Financing for Multi-Tenant Office Building in Falls Church, Virginia
“JLJ Capital is delighted to enter the Greater Washington DC office market and continue to expand our lending landscape, ”said Jonathan lewis, Founder and CEO of JLJ Capital. “Despite the challenges facing the office market as a result of the pandemic, the Washington This market has a unique advantage because of its proximity to lawmakers, which plays a significant role in the demand for office space for government contractors and GSA tenants. ” Jonathan lewis also added, “In addition, JLJ expects the arrival of Amazon HQ2 at National Landing to have a ripple effect on Washington’s metropolitan area, fueling unprecedented demand for office space, sustainable rental growth and considerable development in all sectors. “
JLJ Capital allocates part of the $ 12.75 million to refurbish the underground parking garage portion of the property, modernize mechanical systems and modernize the lobby and common areas. The property, located less than 15 minutes from the city center Washington DC and Amazon’s head office at National Landing, is uniquely positioned to capture a significant portion of spillover demand and is competitive to attract and win larger long-term tenants due to its small base. “JLJ is committed to adding value and creating opportunity with every acquisition and transaction.”
Since launching the company in 2017, JLJ Capital has been a disruptive force in the commercial real estate arena by providing creative financing and partnering with real estate developers and operators in a quick and efficient manner. In addition to investing in Falls Church, JLJ Capital is currently participating in the financing of several other projects in new York, New Jersey, Connecticut, Pennsylvania, Florida, and Texas.
About JLJ Capital
JLJ Capital offers creative financing solutions for bridge loans, acquisitions, base construction, short-term refinancing, mezzanine, mortgage underwriting, partner buyouts and other real estate projects. We are a mid-sized private commercial real estate lender providing short-term financing for multi-family and mixed-use real estate projects throughout United States, focusing mainly on new York, New Jersey, Connecticut, Pennsylvania, Florida, and Texas.
SOURCE JLJ Capital