By Chris Wack
The Industrial Development Authority of Arlington County, Va., is issuing $40 million in multifamily housing revenue bonds to finance a loan for rental property in Arlington, Va.
The Series 2025 bonds are being issued to finance loans to 4200 13th Street and 1201 S Thomas Street Owner, both limited liability companies, according to documents published Friday on MuniOS.
The proceeds will allow the borrowers to pay a portion of costs associated with buying, constructing, renovating and equipping two multifamily residential rental housing projects in Arlington.-unit multifamily rental-housing project.
The bonds are tax exempt. Yields and coupons have not yet been determined. The bonds will mature on Feb. 1 and Aug. 1 of each year. The initial tender date for the bonds is Feb. 1, 2027, with a maturity date of Dec. 1, 2055.
The Charlie 2 project contains 176 apartment units in three buildings on a 60-acre site. Common area improvements include outdoor amenity spaces, including grills and picnic tables. Unit amenities include a washer dryer, new kitchens, and new flooring. The project is expected to start on or about Sept. 1, 2026, and take about 27 months to complete.
The Bravo 5 project contains 122 apartment units on a 60-acre site. It expects to start work upon closing of the mortgage loan, currently seen occurring on or about March 1, 2027, and will completed about 14 months later.
Moody's has assigned a rating of Aa1 to the bonds.
Wells Fargo Securities is the lead underwriter.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 15, 2025 10:41 ET (15:41 GMT)
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