Woodfield Investments has secured $31 million in equity financing for the development of a Class A luxury community in King of Prussia, writes Adelina Osan for Multi-Housing News.

The 320-unit Woodfield Valley Forge complex will be at 580 Goddard Boulevard, close to Valley Forge National Park and will be part of The Village at Valley Forge.

Woodfield at Valley Forge will feature 18 studios, 192 one-bedroom, 105 two-bedroom, and five three-bedroom units. It will also include a swimming pool, fitness center, flex work space, pet spa, sky lounge, clubhouse, and 493 parking spaces.

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Woodfield Investments was able to secure funding for the project thanks to a commercial bank loan and construction loan it received in July. The site plan was approved in March. The transaction was finalized by Adam Bieber, Director of Phillips Realty Capital Managing, which provided the joint venture equity investment for the development.

“The team at Phillips understands our business model and our track record in communities throughout the Mid-Atlantic,” said Rick Rowland, a Woodfield Investments Development Associate. “We are very happy that they were able to help us find a partner, not just an equity allocator.”

Read more about Woodfield Investment’s plans at Multi-Housing News by clicking here.

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