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Middle-Market Digest

Middle Market Digest: The Mid-Atlantic

HFF has secured $96 million in joint venture equity for EastBanc’s Adams Morgan apartment project at 2800 16th St., NW.

2800 16th St., NW

DEAL TRACKER

PRINCE GEORGE’S COUNTY, MD–Katten represented an affiliate of the Peter N.G. Schwartz Management Co. to help it secure $245 million in construction financing for the development of the new national headquarters for the US Citizenship and Immigration Services. Federal Funding Group LLC is the lender, which was represented by Thomson Hine, but after the closing the loan will be transferred to USCIS Lease Finance Trust, a trust of investors. Prince George’s County is providing $29 million in incentives to the project. The Katten team consisted of Ken G. Lore, Julia E. Schmidt, Harold A. Levy, Gregory P. L. Pierce, Patrick M. Filice, Adam L. Stoddard and Jeff J. Friedman.

WASHINGTON, DC–HFF has secured $96 million in joint venture equity for EastBanc’s Adams Morgan apartment project at 2800 16th St., NW. HFF arrange a joint venture partnership with Mitsui Fudosan America for the project, whose costs will total approximately $110 million. Groundbreaking is expected in early 2019. The HFF team included Walter Coker, Brian Crivella and Stephen Conley.

WASHINGTON, DC–Marcus & Millichap brokered the sale of 2461 P St., t NW, a 4-unit apartment property that was part of a two-asset portfolio. The building traded for $1.2 million, or $320,745 per unit. The buyer is a current tenant in the building and purchased the property through the Tenant Opportunity to Purchase Act (TOPA). Last December the first building, 3003 P St., NW, a 6-unit multifamily with ground-floor retail, traded for $1.5 million to a private investor. Christian Barreiro, Dennis Cravedi and Marty Zupancic of The Zupancic Group listed the property on behalf of a private investor.

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Erika Morphy

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.

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