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| Cathedral Commons rendering |
WASHINGTON, D.C. – HFF announced today that it has secured
$91 million in construction/permanent financing for Cathedral Commons, a
mixed-use development totaling 264,272 square feet in Washington, D.C.
HFF worked on behalf of the borrower, a joint venture
between Giant of Maryland and The Bozzuto Group, to secure the 13-year,
fixed-rate, construction/permanent financing through Northwestern Mutual.
Upon completion, Cathedral Commons will include 137 luxury
multi-housing rental units, eight luxury townhomes and 128,852 square feet of
ground-level retail space.
The retail portion of the property being leased by H&R
Retail is 60 percent pre-leased and will be anchored by a 56,000-square-foot,
state-of-the-art Giant Food grocery store.
The project is located at 3336 Wisconsin Avenue in the Cathedral Heights
neighborhood of Washington, D.C.
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| Daniel McIntyre |
The HFF team representing the borrower was led by managing
director Mark Remington and director Daniel McIntyre.
“This is the successful culmination of a process that began
by securing The Bozzuto Group as the development/joint venture partner for
Giant of Maryland and then fully capitalizing the construction. Together, Giant of Maryland, Bozzuto and
Northwestern Mutual will bring this trophy-class asset to life”, said
Remington.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |
www.hfflp.com
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