- Established in 2013, Rooney Properties is a privately held real estate development company located in Arlington, Virginia;
- Its team have extensive experience underwriting, acquiring, entitling and developing commercial real estate across the Washington DC metro area;
- The $15.5m loan from OakNorth will be used to support the acquisition of a nine-story, 197k sq. ft Class A commercial office building in Arlington.
New York, 14th May 2025 – OakNorth – the leading digital bank for entrepreneurs, by entrepreneurs – has provided a $15.5m loan to Virginia-based real estate investor, Rooney Properties.
Established in 2013 and headquartered in Arlington, the firm has extensive experience underwriting, acquiring, entitling and developing commercial real estate across the Washington DC metro area. Having successfully delivered major land development projects, mixed-use, multi-family, office, and industrial properties, its team combines diverse backgrounds and skillsets to successfully execute acquisitions, investment management, complex entitlements, development, asset management, and construction management.
The $15.5m loan from OakNorth will be used to support the acquisition of a nine-story, 197k sq. ft, Class A commercial office building in Arlington, Virginia. The well-renowned site named, Ellipse on Fairfax, is located in the heart of Ballston, just two blocks from Ballston Metro Station, serving the Orange and Silver lines, and is a short walk from the new Ballston Quarter shopping center. Following the completion of the acquisition, Rooney Properties will explore options to capitalize on the strong demand for housing in the Arlington area and pursue entitlement for conversion of the asset to multi-family units in the coming years.
Kathleen D. Rooney, President of Rooney Holdings, commented: “We’re delighted to receive a funding package from with OakNorth on this transformative project in the heart of Arlington. Max and his team’s deep understanding of the region’s real estate market and its fundamentals, as well as their entrepreneurial approach to lending made them the ideal financing partner.
Max Saidman, Director of Debt Finance at OakNorth, added: “This transaction exemplifies OakNorth’s continued commitment to backing visionary developers who are reshaping urban environments in innovative and sustainable ways. Rooney Properties has a proven track record of successful office-to-residential conversions, and the Arlington market presents a compelling opportunity for this strategy. We’re proud to support Kathleen and her team in unlocking the full potential of this asset and helping address the region’s growing demand for high-quality housing.”
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Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $17bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 56,000 jobs, and over 34,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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