Northridge I & II
Herndon, VA

Client
Goodstone, LLC

Description
A joint venture between Goodstone LLC and Waterfall Asset Management LLC sought debt financing to acquire and renovate Northridge I & II, two separate but contiguous properties that jointly offer 258, 452 square feet of office space in Herndon, Virginia adjacent to Amazon Web Service’s east coast hub. Goodstone’s strategic modernization plans combine the properties into one integrated campus with shared amenities and upgrades that will restore the buildings to “best-in-class” status. Timing of this transformative redevelopment is concurrent with delivery of the proximate Innovation Center Metro mixed-use transit center.

Structuring
$49,625,000 Debt Financing for 100% of Acquisition and Renovation Costs