Cushman & Wakefield today announced that it secured $74 million in construction financing for 1221 Van Street.
Cushman & Wakefield Executive Managing Director John Campanella represented The JBG Companies in arranging financing for this project, securing funds from a bank lender.
“1221 Van is a world-class asset that attracted a number of interested lenders,” said Mr. Campanella. “The outstanding design and amenities combined with strong sponsorship made this transaction a success.”
1221 Van Street is planned as a 13-story multifamily project located in Washington, DC’s dynamic Capitol Riverfront neighborhood. The project will include 291 luxury units and approximately 24,000 square feet of ground-floor retail. The site is situated in an outstanding location bordered by Van, N and South Capitol Streets, adjacent to Nationals Park and just a few blocks from the future DC United stadium.
Scheduled for completion in Spring 2018, the property will feature a number of amenities including a spacious rooftop with direct views into Nationals Park, an infinity pool, wet bar, indoor and outdoor lounge area for entertaining, a game area and a fitness center. The project will be LEED Silver certified with many sustainable strategies including an irrigation system replenished by rainwater.
About The JBG Companies
Headquartered in Chevy Chase, Md., The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington, DC area. Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities. For more information, please visit www.JBG.com or on Twitter @TheJBGCompanies and Facebook facebook.com/TheJBGCompanies.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWakeon Twitter.
