Ox Hill Companies has landed a $31 million acquisition financing deal for the purchase of City Centre West and an office asset in Fairfax, Virginia. The 1.78-acre site will be transformed into residential and commercial condos alongside an occupied office building.
The property is entitled to 210,472 square feet of luxury residential condos and 48,911 square feet of commercial space. Construction is slated to begin in the first half of 2024. Additionally, the acquisition includes a 47,879-square-foot office building at 4031 University Drive.
Marcus & Millichap Capital Corporation’s Gary Sefcik secured the two-year, interest-only financing for the borrower.