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Lincoln JV secures $95.5M financing for Alexandria, Va., apartment asset

A joint venture including Lincoln Property Co. secured $95.5 million in financing for the acquisition of the 16-story, 403-unit Meridian at Carlyle apartment building in Alexandria, Va.

The property, at 401 Holland Lane in the Carlyle neighborhood, will be renamed Lincoln at Old Town, according to a release.

Holliday Fenoglio Fowler LP arranged the five-year, floating-rate loan from MetLife Investment Management.

The property was purchased from an affiliate of Paradigm Cos., according to a report by the Washington Business Journal.

The publication added, citing Alexandria tax records, that the assessed value of the building is more than $134 million.