Washington, DC – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has arranged long-term, fixed-rate financing totaling $60.5 million for 5333 Connecticut Avenue in Washington, DC.
Executive Managing Director Philip Mudd and Vice President Bradley Geiger of Cassidy Turley secured the financing on behalf of Calvin Cafritz Enterprises. The financing was provided by Northwestern Mutual Life Insurance Company.
“5333 Connecticut Avenue is an exceptional property and will be a magnificent addition to the Chevy Chase neighborhood. Calvin Cafritz Enterprises assembled the 16,230 square foot site approximately 20 years ago and concluded that it was time to construct this building,” commented Mr. Mudd.
5333 Connecticut Avenue is a 9-story, 263-unit luxury apartment project located on the southeast corner of Connecticut Avenue and Military Road in the Chevy Chase neighborhood of Washington, DC. Building amenities include a roof penthouse with party room, pool, outdoor kitchen, outdoor fireplaces, a dog walk area, and a private courtyard for tenant use with water feature, seating areas and an outdoor fireplace. Interior amenities include a fitness center, club room and business center. There are two floors of below-grade parking which contain 173 parking spaces.
The project is just several blocks from the Friendship Heights Metro station (Red Line) and upscale retail establishments including Tiffany’s, Louis Vuitton, Saks Fifth Avenue and popular restaurants such as Cheesecake Factory, Maggiano’s and Clyde’s, as well as numerous boutiques, day spas, a multiplex cinema and other services which cater to both residents and visitors.
The Friendship Heights neighborhood includes the corporate headquarters of insurance giant GEICO, the corporate headquarters of the Ritz-Carlton hotel chain and a concentration of broadcast media including the studios of WMAL, WMAL-FM, and WTTG.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 4,000 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $25.8 billion in 2013, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 24,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.