WASHINGTON, July 10, 2019 – JLL announces it has secured capital for the development of Sorrento, a 306-unit multi-housing community in Reston, Virginia.

JLL worked on behalf of Woodfield Development to secure a construction loan through PCCP, LLC and joint venture equity from German American Realty.

Sorrento is located at 1950 Roland Clarke Place along the Dulles Toll Road. The transit-oriented community will be situated within walking distance of the existing Wiehle-Reston East Metro Station and the future Reston Town Center Metro Station. Due for completion in 2021, Sorrento is being developed in an area that is being transformed into a walkable, tree-lined residential enclave in the heart of Reston that also offers easy access to the area’s 31.2 million square feet of office space and multiple retail amenities, as well as Washington, D.C. Units will include a mix of 316 studio, one- and two-bedroom floor plans averaging 800 square feet, 37 of which will be designated as workforce housing. The community will feature a rooftop, resort-style swimming pool with sunning shelf and lounging deck; a seventh-floor sky lounge with indoor bar and outdoor space; state-of-the-art fitness center; landscaped courtyards with grills and fire pits; outdoor garden park; clubroom with bar, fireplace and game room; and dog park and dog spa.

The JLL Capital Markets team representing the developer included Walter Coker, Brian Crivella, Jamie Leachman and Evan Parker.

“This project represents an attractive opportunity for PCCP to lend to a highly institutional and experienced partnership in a well-located and affluent D.C. suburb,” said Ryan Dodge, vice president with PCCP. “Woodfield Reston will appeal to renters seeking a quality, amenity-rich community near a diverse and dense employment base at a price point that is less than nearby markets.”