Affinius Capital Lends $98M for D.C. Multifamily Refi

The owners of a 324-unit apartment building in Washington, D.C.’s Mount Vernon Triangle have secured a $97.9 million refinancing from Affinius Capital, Commercial Observer has learned.

The 14-story Class A property at 400 K Street NW called the Lydian was built in 2018 with 13,551 square feet of ground-floor retail. The borrower is a joint venture that includes affiliates of Quadrangle Development and the Wilkes Company.

JLL’s Chris Hew and Susan Carras arranged the financing.

“Mount Vernon Triangle has evolved into a highly desirable residential neighborhood with strong access to employment, transit and amenities throughout Washington, D.C.,” Affinius Capital’s Costa Kontoulis said in a statement.

The Lydian’s amenities include a fitness center and a private training studio, indoor and outdoor penthouse common areas, a rooftop pool and sun deck, an interior courtyard, dog-washing stations and a 155-space parking garage.

Washington, D.C.’s multifamily market slid in the first half of the year after federal workforce cuts weakened renter demand, according to a market report from Matthews. Vacancy rose to 4.7 percent and average rent fell 0.7 percent since mid-year 2025 to $2,227 a month.

At the same time, the construction pipeline shrank to a decade low, while investment activity surged 44.5 percent to $8.24 billion over 12 months through June this year.

Affinius Capital manages $64 billion in gross assets across North America and Europe.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.

Source: commercialobserver.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.