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Carr secures financing to redevelop suburban DC office site as apartment complex

Firm forms venture with Barings that land construction loan for Alexandria, Virginia, project
A rendering depicts apartment complex at 425 Montgomery St. in Alexandria, Virginia, that is expected to be completed by late 2026. (Carr Properties)
A rendering depicts apartment complex at 425 Montgomery St. in Alexandria, Virginia, that is expected to be completed by late 2026. (Carr Properties)
CoStar News
February 7, 2025 | 10:45 P.M.

Carr Properties has secured financing for a mixed-use project outside of the nation’s capital that would transform a site that once housed an office building into more than 200 new apartments and shop space.

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