M id A tlantic Real Estate Journal — Owners, Developers & Managers — October 30 - November 12, 2020 — 15B


O wners , D evelopers & M anagers Tangney and Schwat represents seller and procures buyer Greysteel arranges the $4.5M sale of a 28-unit multifamily

of Colorado G a r d e n s , a 2 8 - u n i t mu l t i f am - ily property l o c a t e d a t 5 7 5 9 - 5 7 6 1 13th St. NW. Greysteel W

ASHINGTON, DC — Greysteel has arranged the sale

m a n a g i n g d i r e c t o r , W . K y l e T a n g n e y and d i r e c - tor, Herbert Schwat , of the compa- ny’s DC office represented the seller and solely procured the buyer. The property sold for $4.475M. Built in 1940, Colorado Gar- dens is a 4-story building made FREDERICK, MD — St. John Properties, Inc. an- nounced the promotion of Danny Severn to assistant vice president. Severn has worked for the company since 2008, and was formerly direc- tor of development, Virginia and Central Maryland. Severn will continue to over- see the day-to-day develop- ment responsibilities of the W. Kyle Tangney Herbert Schwat

November 13th Deadline: Nov 6th

5759-5761 13th St. NW

up of 28 units with a mix of studio, 1 bedroom and 2 bed- room apartments averaging 564 s/f in size. The property was well-maintained yet of- fered significant value-add potential by leasing vacant units at a rental premium fol- lowing minor in-unit aesthetic upgrades. “The 16th Street Heights

and Brightwood neighborhoods have attracted significant in - vestor attention in recent years because of their proximity to core NWWashington, DC” said Tangney. “The level of profes- sionalism demonstrated by all parties allowed us to close the transaction with minimal COVID-19 related delays and no adjustments.” MAREJ cess in an efficient and timely manner, as well as assisting in the identification, evaluation and due diligence of real estate development opportunities that match the profile of the company. The firm’s current develop - ment pipeline in Frederick, Maryland and Northern Vir- ginia currently exceeds 2.5 million s/f. MAREJ

Construction Management Design Build

December 11th Deadline: Nov 27th

St. John Properties promotes Severn to assistant VP VA and Central MD division, which includes directing the entitlement efforts for ground- up construction activities and working with local jurisdic- tions to obtain necessary ap- provals and permits. In his role, Severn engages archi- tects, engineers, legal teams, in-house construction profes- sionals, and subcontractors to manage the development pro-

Industry Leaders

Special Advertising Rates To all Participating Firms!

Contact us today to save your spot! Lea Christman lea@marejournal.com 781.740.2900

Made with FlippingBook Online newsletter