WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced that it represented DP Residential, LLC an affiliate of Duball, LLC in the sale of The Swift Apartments, a Class A, new construction multifamily building located at 3828 Georgia Avenue, NW in Washington, DC. Buvermo was the institutional equity and Eagle Bank the third party construction lender for the mixed-use development project.
Managing Director Christopher Doerr, Vice Chairman Bill Collins and Vice Chairman Paul Collins of Cassidy Turley represented Duball, LLC in the $75 million sale to Principal Real Estate Investors.
"Petworth has become one of the trendiest neighborhoods in Washington, DC," said Mr. Doerr. "I give credit to Duball, LLC for their vision and I think the buyer will enjoy tremendous long-term success with the Swift Apartments."
The 218-unit building houses a brand new 64,000 SF urban concept Safeway on the ground floor and is located in the Petworth neighborhood just steps away from the Georgia Ave-Petworth Metro Station, which is located along Metrorail's Green and Yellow lines. The Swift's central location provides residents with direct access to an array of retail amenities and neighborhoods, including 11th Street, U Street and Columbia Heights.
The building amenities include a 9,200 SF rooftop with grilling areas, gas fire pit and panoramic views of the DC skyline, open-air courtyard, state-of-the-art fitness center, two-story lobby and modern clubroom with two-sided fireplace. In addition, the Swift is slated to be certified LEED Silver upon completion.