Monday, April 21, 2014

HFF arranges senior debt construction financing and joint venture equity for Class A multi-housing development in Odenton, MD

Rendering of planned NOVUS Odenton Station development, Odenton, MD

Walter Coker
WASHINGTON, D.C. – HFF announced today that it has arranged senior debt construction financing and joint venture equity for NOVUS Odenton Station, a 244-unit, Class A, transit-oriented multi-housing development in Odenton, Maryland.

HFF worked on behalf of the borrower, NOVUS Residences LLC (“NOVUS”) to place the four-year, construction loan with EagleBank.  In addition, HFF secured joint venture equity for the development of the project through Clark Enterprises.

NOVUS Odenton Station is located at the northeast corner of Hale Street and Nevada Avenue within Odenton’s walkable town center and steps from the Odenton MARC transit station providing direct access to Baltimore and Washington, D.C.’s Union Station. 

  Additionally, the property is situated one block from Maryland Route 175 (the entrance to Fort Meade) and Maryland Route 32 (the primary access to the National Security Agency).  Due for completion in early 2015, the asset will include a mixture of one-, two- and three-bedroom units.  

Community amenities will include a 5,000-square-foot fitness center with yoga and cycle studios, pet grooming spa, bike workshop, private park space, outdoor swimming pool, movie theater room and clubroom with billiards center.

Brian Crivella
The HFF debt placement team was led by Walter Coker and Brian Crivella.

Formed in 2011, NOVUS Residences LLC is the multifamily component of Cafritz Interests and represents a partnership between Conrad Cafritz, former Archstone senior vice president Robert Seldin, and veteran property operations expert Melanie Domres. 

 With a specific focus on value creation through property development, acquisition, adaptive reuse, construction management, asset management and property operations, NOVUS is currently pursuing growth opportunities within the metropolitan Washington, D.C. area, with an eventual goal of bringing NOVUS quality, style and value to select markets throughout the U.S.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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