Arlington County Board members unanimously approved Tuesday night more than $310 million in county and Amazon loans to Jair Lynch Real Estate Partners to buy and preserve affordable housing at a Columbia Pike complex, forging speedily forward on a deal whose talks first began barely two months ago.
Jair Lynch’s planned acquisition of the Barcroft Apartments, a privately owned apartment complex built in 1939 and located in the Douglas Park neighborhood, is a “half-a-billion-dollar deal,” Arlington County Board Member Christian Dorsey said during the meeting.
The exact purchase price, as well as the assessed value of the 60-acre property at 1130 S. George Mason Drive, is unclear. Spokespeople for the county, Jair Lynch Real Estate and Barcroft Management Co., the site’s property management company, declined to comment on the deal, which is expected to stay on its fast course to close by year’s end.
