DC Luxury Community Lands $106M Refi
Agora is one of three residential buildings at The Collective community.
WC Smith has secured a $106.3 million refinancing loan for Agora at the Collective a 334-unit luxury apartment community located in Washington, D.C. Walker & Dunlop arranged the loan for the property owner and Fannie Mae provided the funds for this Class A tower.
Brenden Coleman and Connor Locke of Walker & Dunlop’s multifamily finance team worked on behalf of WC Smith. The loan term includes 10 years of full-term interest-only payments.
Opened in 2018, the Agora at the Collective features floor plans ranging from studios to three-bedroom residences with an average rent of $3,298 per month, according to Yardi Matrix. The multifamily community sits atop a Whole Foods supermarket and includes an onsite fitness center, business center, pool, clubhouse and spa.
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Individual units at Agora feature in unit laundry machines, central air conditioning and high-speed internet access. The building itself is LEED Silver certified and is approximately 96 percent occupied. Situated at 800 New Jersey Ave. SE in Washington, D.C., the community is part of the market’s Capitol Riverfront. The Nationals’ ballpark is under a mile away, with a metro station close by. The Collective is also within walking distance to D.C.’s Navy Yard.
The Collective’s collective
Agora at the Collective is one of three buildings that are part of the larger Collective community. Built in three phases, the it includes Park Chelsea and The Garrett. The Agora was phase two of the 1,138-unit project. Across the community, residents can share amenities across the three buildings, which include various outdoor sports courts, a golf simulator, spas and more.
Previously, Walker & Dunlop secured refinancing for Park Chelsea in 2023. WC Smith completed the 429-unit first phase of the project in 201; it was the largest building on the property. Yardi Matrix shows that the building is 96.7 percent leased as of May 2025.
The Garrett at the Collective came online in 2021 as the final phase of the larger project. The building includes 373 apartments with studio to two-bedroom floor plans. At the Garrett, residents have 5,000 square feet of coworking space to use on top of other amenities including tennis and pickleball courts, a fitness center and basketball court. Walker & Dunlop also arranged financing for this phase of the project.
Nearby, a joint venture between Henderson Park and Lowe received construction financing for a 428-unit office conversion project. The partnership is converting a 536,000 square-foot former office building into a multifamily community by adding three more stories and 112,000 square feet of space.
