MCLEAN, VA - Jefferson Apartment Group (JAG), a leading East Coast developer and operator of premier communities, announced the successful refinancing of J Harbor Park at North Point. The 190-unit garden-style community built in 1997 is located at 11410 Esplanade Drive in the heart of Reston’s Dulles Tech Corridor.
In partnership with Invesco Real Estate, JAG originally acquired the development in September 2021 for $65 million, and they remain partners. Since then, significant unit and amenity upgrades, along with operational enhancements, have positioned the asset for new financing.
The refinancing through Oaktree Capital, with support from CBRE, secures long-term capital stability while supporting continuing capital improvements and operations.
"This refinancing represents a significant milestone for J Harbor Park at North Point and underscores the strength of its financial position,” said James Duncan, JAG CFO and Partner. "Since acquiring the asset in 2021, we’ve remained focused on enhancing the resident experience through strategic upgrades while preserving the tranquil character of this community. This new capital structure enables us to execute our long-term vision in the highly competitive Reston market."
Situated on a 10-acre wooded enclave adjacent to Baron Cameron Park and a 10-minute walk to Lake Newport, J Harbor Park at North Point features a mix of spacious 1-, 2-, and 3-bedroom luxury apartments. Under its ownership, JAG has implemented a series of apartment renovations, including luxury plank flooring and upgraded kitchens and bathrooms with quartz countertops. The units also feature stainless steel appliances, built-in pantries, full-size washers and dryers, private patios/balconies, and gas fireplaces on upper floors. Roughly 40 percent of units have been upgraded to date.
The community clubhouse has also been extensively upgraded. It features a resident lounge equipped with a full entertainment kitchen, a 24/7 fitness center, and a screened indoor-outdoor sunroom. Outdoor amenities include a swimming pool with an expansive sundeck, a picnic area with grilling stations, and a car wash area.
The property benefits from exceptional regional connectivity, located less than 3 miles from Reston Town Center and the Silver Line Metro. It’s also less than 2 miles from North Point Village Center with restaurants and retail.
About Jefferson Apartment Group: Jefferson Apartment Group is a leading full-service real estate firm specializing in both luxury and attainable multifamily and mixed-use real estate investments on the East Coast, from acquisition and development through construction. Professional property management services are provided through JAG Management Company. Headquartered in McLean, Virginia, in the Washington metropolitan area, JAG also has regional offices in Boston, Philadelphia, Charlotte, and Orlando. JAG is committed to creating and managing high-quality, innovative, and environmentally responsible communities.
About Invesco Real Estate: Invesco Real Estate is a global leader in the real estate investment management business with $86.3 billion in real estate assets under management, 596 employees, and 21 regional offices across the U.S., Europe, and Asia Pacific as of December 31, 2025. With over a 40-year history, Invesco Real Estate, part of Invesco Private Markets, invests across the risk-return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd.