Dock 79 (Riverfront)
Washington, D.C.

Client
MRP Realty and Florida Rock Properties

Description
Luxury apartments with ground-floor retail located on the Anacostia River, south of the Washington Nationals baseball stadium. The nine-floor riverfront project in the Capitol Riverfront district is a 305-unit, 281,050 square foot high-rise multifamily development with approximately 19,000 square feet of ground floor retail.

Structuring
$82,000,000 capital stack — $65 million construction loan from First Niagara Bank and an additional $17 million in preferred equity financing provided by PRC’s joint venture partner, EB5 Capital.