Affinius Capital Provides $97.9M Refinancing for Mount Vernon Triangle Apartment Tower

Affinius Capital has provided a $97.9 million refinancing for The Lydian, a 324-unit apartment building at 400 K Street NW in the Mount Vernon Triangle neighborhood of Washington, D.C. The 14-story Class A tower was completed in 2018 and includes 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 arranged the financing, with brokers Chris Hew and Susan Carras handling the deal. Amenities at the property include a fitness center, a private training studio, rooftop pool and sun deck, an interior courtyard, and a 155-space parking garage.

The deal comes as the D.C. multifamily market has cooled. According to a Matthews market report cited in the article, vacancy rose to 4.7 percent in the first half of the year, and average rent fell 0.7 percent since mid-2025 to $2,227 a month. The construction pipeline dropped to a decade low, while investment volume rose 44.5 percent to $8.24 billion over the 12 months through June.

For lenders and owners, the transaction shows continued capital availability for stabilized, well-located Class A assets even as demand softens. Borrowers refinancing in this market should expect lenders to focus on leasing performance and submarket fundamentals.