Cushman & Wakefield announced today that it served as the exclusive advisor to an affiliate of ASB Real Estate Investments in arranging $105 million of senior financing secured by Sedona | Slate, a 2013-constructed, 474-unit, Class-A multifamily apartment property in Rosslyn, Virginia. The fixed rate financing was provided by Prudential Insurance Company of America.
Sedona | Slate offers residents a true live-work-play environment. Located just three blocks from the Rosslyn Metro station, the property features spacious luxury apartments including a 433-space parking garage and 10,435 square feet of attractive Clarendon Boulevard retail space. The property is also within close proximity to grocers, restaurants, cultural attractions and an assortment of restaurants, bars, and nightlife destinations.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Steve Kohn, Alex Hernandez, John Campanella, Sridhar Vankayala and Gloria Agyeman served as exclusive advisors in the transaction.
“The capital markets were highly attracted to this exceptional residential property,” said Mr. Kohn, President of Cushman & Wakefield Equity, Debt and Structured Finance.
Senior Managing Director Alex Hernandez added, “Given the quality of the asset, the excellent location and strong sponsorship, we knew this asset would finance extremely well with a life insurance company.”
About Cushman & Wakefield
Cushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facility services (branded C&W Services), global occupier services, investment management (branded DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About ASB Real Estate Investments
ASB Real Estate investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm, managing $6.8 billion* in gross assets under management for over 340 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multifamily, retail and industrial properties. ASB manages the ASB Allegiance Real Estate Fund, its sole vehicle for core investing; the ASB Meridian Real Estate Funds, a series of low-leverage value creation vehicles; and a development separate account. For more information about the company, visit www.asbrealestate.com.
