Advantage Capital: Leading Impact Investment Firm Supports Telestar Court Redevelopment in Virginia

Deal News | May 27, 2025 | Advantage Capital

Advantage Capital, an impact investment firm focused on underserved areas, announced its financial backing for the redevelopment of Telestar Court, an office-to-residential conversion in Falls Church, Virginia. The $51 million project aims at creating 80 affordable housing units through state Low-Income Housing Tax Credits (LIHTCs) and the Virginia Housing Opportunity Tax Credit (HOTC) program, targeting households with incomes between 30% to 80% of the area's median. Vice President William Fiederlein highlights the firm's commitment to leveraging strategic investments for maximum societal impact. In partnership with Conifer Realty, this project enhances the accommodation landscape in Fairfax County, affirming Advantage Capital's support for vulnerable populations. Since its inception, Advantage Capital has successfully financed multiple housing initiatives, supporting economic and community development.

Sectors

Real Estate Development
Impact Investing
Affordable Housing

Geography

United States – The project is located in the United States, specifically in Virginia.
Virginia – The Telestar Court redevelopment project is situated in Falls Church, Virginia, and addresses housing needs in the Northern Virginia region.

Industry

Real Estate Development – The article discusses a real estate development project converting office space into residential apartments.
Impact Investing – Advantage Capital is an impact investment firm involved in financing projects aimed at generating social impact, such as affordable housing.
Affordable Housing – The project targets low- to moderate-income residents using tax credit programs designed to expand access to affordable housing.

Financials

$51 million – Total development cost for converting Telestar Court into affordable housing units.
$15 million – State Low-Income Housing Tax Credits used to finance part of the development.

Participants

Name	Role	Type	Description
Advantage Capital	Financing Firm	Company	Impact investment firm providing funding and strategic support for the Telestar Court redevelopment project.
Telestar Court	Target Project	Company	The office-to-residential conversion project in Falls Church, Virginia.
Conifer Realty	Development Partner	Company	Real estate development company partnering with Advantage Capital for the Telestar Court project.
William Fiederlein	Vice President at Advantage Capital	Person	Company official commenting on the strategic initiatives of Advantage Capital.
Paul Marfione	Vice President of Development, Conifer Realty	Person	Development executive at Conifer Realty highlighting the significance of the project.