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| Rendering of planned NOVUS Odenton Station development, Odenton, MD |
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| 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.
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| 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 | www.hfflp.com
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