Washington, DC – Cassidy Turley announced today that it secured financing for Abdo Development’s 120 unit, luxury condominium project, located in the Rosslyn Ballston corridor in Arlington County, Virginia. Federal Capital Partners provided the equity/mezzanine debt for the project and United Bank provided the senior debt. David Webb and Jamie Butler of Cassidy Turley acted as exclusive advisor to Abdo on the financing, which was Webb and Butler’s sixth new construction financing transaction to close so far in 2010.
Gaslight Square follows Abdo’s highly successful and award winning Wooster and Mercer Lofts project—located across the street from Gaslight—which offered some of the most unique luxury condominium product in the Washington region, successfully selling out in the worst of the condo market’s recent downturn. The Gaslight units offer remarkable features not found in other projects in the region such as double height ceilings in half of the units, private elevator access for all units, and very large outdoor balconies, patios and terraces in all the units.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with over 2,800 professionals in 60 offices nationwide. The firm completed transactions valued over $13 billion in 2009, manages over 420 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, corporate services, project leasing, property management, project and development services, and tenant representation. Outside of North America, Cassidy Turley has served the international needs of its clients since 1985. In 2010, the firm enhanced its global service delivery through its partnership with GVA Grimley. The firm recently ranked in the Top 10 on the Lipsey Co.’s Commercial Real Estate Top Brands Survey, and was ranked #1 by Real Estate Alert for Office Sales in 3 of the Top 6 Markets. Please visit www.cassidyturley.com for more information about the company.
Maureen Wheeler 202.463.1138