Venable client Washington Real Estate Investment Trust (WRIT) entered into a joint venture with Trammell Crow Company to develop a 15-story, 270 unit high-rise apartment complex in Alexandria, VA. News of the joint venture was featured in a November 30, 2011 Citybizlist article.
The project is estimated to cost $95 million and will be within walking distance of the Braddock Road Metro station. As the equity partner, WRIT will contribute 95% of the required equity and Trammell Crow, as sponsor and developer, will contribute the remaining 5% of required equity. Construction is expected to begin in late 2012 and be completed 24 months later.
Venable partners Robert Gottlieb and Jennifer Bruton represent WRIT.
The project is estimated to cost $95 million and will be within walking distance of the Braddock Road Metro station. As the equity partner, WRIT will contribute 95% of the required equity and Trammell Crow, as sponsor and developer, will contribute the remaining 5% of required equity. Construction is expected to begin in late 2012 and be completed 24 months later.
Venable partners Robert Gottlieb and Jennifer Bruton represent WRIT.