Jair Lynch Real Estate Partners’ acquisition of Barcroft Apartments in Arlington, Virginia was named 2021’s “Best Financing Deal” by the Washington Business Journal. The monumental transaction closed in December 2021 and is financed via a public-private partnership between Jair Lynch, Amazon Housing Equity Fund and Arlington County. Arlington County loaned $150 million and provided additional financing tools. Amazon committed $160 million in a low-interest loan from the Amazon Housing Equity Fund to support the preservation of the neighborhood’s affordable housing stock. The deal ensures 1,334 units on the 60-acre site will remain affordable with rents up to 60% Area Median Income (AMI) for 99 years. No current residents will be displaced as a result. Hogan Lovells represented Jair Lynch in this transaction.
For the full transaction story, check out the press release here: Jair Lynch Real Estate Partners Completes Acquisition of Barcroft Apartments with Backing by Amazon and Arlington County