ROCKVILLE, MD—In case you hadn't heard, Westside at Shady Grove Metro is almost ready to open its doors to its first residents. As it preps for that, it is taking care of other business too. By that I mean, its developers, the Bozzuto Group and EYA, have announced in recent days that they have secured financing and selected a leasing partner.
Namely, equity is being provided Carlyle Realty Partners and the developers through a JV, and Citizens Bank is providing the debt. HFF arranged the JV and arranged the debt placement. Last week EYA and Bozzuto Group announced that KLNB's Ben Becker and Matt Skalet will be leading the retail leasing efforts.
Meanwhile, the first wave of residential move-ins is expected in the first quarter of 2016. EYA began building the project's 407 townhomes in May.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
