Post Brothers Secures Historic $575 Million Package for Major D.C. Adaptive Reuse Project

Post Brothers closes a historic $575M funding package for The Geneva in D.C., featuring a record-breaking $465M C-PACE loan for sustainable office conversion.

By: AXL Media

Published: Mar 13, 2026, 11:47 AM EDT

Source: https://www.multihousingnews.com/

A Record-Breaking Financial Structure

The $575 million funding package for The Geneva represents a sophisticated assembly of capital in a challenging lending environment. Beyond the historic $465 million C-PACE tranche administered through DC Green Bank, Mavik provided a $110 million senior loan via its VS2 Special Opportunities Fund. JLL Capital Markets played a pivotal role as the broker for the deal. According to industry reports, the total development cost is projected to reach $750 million, highlighting the immense scale of converting aging office infrastructure into modern living spaces.

Sustainable Engineering and Carbon Reduction

The massive C-PACE allocation is specifically earmarked for substantial environmental upgrades to the existing 604,000-square-foot structure. These funds will subsidize high-efficiency HVAC systems, advanced lighting, and modernized hot water infrastructure, alongside significant improvements to the building's envelope. Post Brothers estimates that these green measures will prevent approximately 1,514 metric tons of carbon emissions annually. Furthermore, the operational carbon intensity of the 15-story community is expected to be 47 percent lower than that of the original office towers.

Scaling the Office-to-Residential Pipeline

The Geneva, which currently consists of two nine-story towers, will be expanded into a 15-story residential landmark. The planned unit mix includes 429 market-rate apartments, 42 extended-stay rentals, and 61 affordable housing units. To maintain the project’s mixed-use appeal, the developer will also integrate 57,000 square feet of commercial space. Post Brothers President Matt Pestronk noted that the pivot to C-PACE was a strategic necessity after traditional large banks were unable to meet the specific requirements of the deal, illustrating a shift in how large-scale urban redevelopments are being capitalized.