Washington, DC – Cassidy Turley today announced that it secured a construction loan and equity for 3801 Georgia Avenue, a 49 unit condominium construction project in Washington, DC. The $14 million loan was provided by a regional bank and the equity from local investors. David Webb of Cassidy Turley arranged the financing on behalf of Donatelli Development.
3801 Georgia Avenue is located in the Columbia Heights/Petworth neighborhood across from the Georgia Avenue/Petworth Metro Station. This property will be the first luxury boutique residential condominium property in the neighborhood and offers unique studio, one bedroom, and two bedroom units averaging 850 square feet. Columbia Heights is a rapidly developing neighborhood that offers a great amenity base. 3801 Georgia is conveniently located across the street from Safeway and nearby DC USA, a three-level, 500,000 square foot complex anchored by Target, Bed Bath & Beyond, Best Buy, Staples and Washington Sports Club.
About Cassidy Turley
Cassidy Turley is one of the largest commercial real estate services providers in the U.S., with 420 million square feet of managed space in 57 locations and $16 billion in completed transactions for 2008. The firms comprising Cassidy Turley include Cassidy & Pinkard Colliers in Washington, DC, Colliers Turley Martin Tucker in the Midwest, Colliers ABR in New York City and Colliers Pinkard in Baltimore, Charlotte and Raleigh, along with the addition of BT Commercial and CPS in Northern California (formerly affiliated with NAI and CORFAC, respectively), BRE Commercial in Southern California and Phoenix (both formerly affiliated with Grubb & Ellis) and Colliers Houston & Co. of New Jersey. Collectively, the Cassidy Turley firms have over 360 shareholders. Through its team of experienced service professionals, Cassidy Turley focuses on the needs of its clients, offering end-to-end services delivered across a full spectrum of commercial real estate including Capital Markets, Corporate Services (which supports more than 22,000 locations), Landlord and Tenant Representation and Property and Project Management. The firm also offers specialty services and industry focused practice groups as well as first class market research. In addition, Cassidy Turley is a leader in assisting clients to create more sustainable workplace environments. The firm recently ranked in the Top 10 on the Lipsey Co.’s Commercial Real Estate Top Brands Survey. Please visit www.cassidyturley.com for more information about the company.
Maureen Wheeler 202.463.1138