WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged the sale of a 22,884-square-foot infill land site located at 4990 Fairmont Avenue in downtown Bethesda, Maryland on behalf of Starr Capital, LLC. Duball Fairmont, LLC, an affiliate of Duball, LLC was the acquiring party.
The site is fully entitled for a 17-story structure encompassing a 13-story, 71-unit luxury residential component situated atop a four-level, above-grade parking garage and 2,500 square feet of ground floor retail.
About Starr Capital LLC: Founded in 2003, Starr Capital LLC invests in real estate assets for cash flow and development throughout the Washington, D.C. Metropolitan area with a focus on multifamily, retail and hospitality sectors. Visit starrcapital.com for further information.
About Duball, LLC: Duball, LLC, founded in 2004, is one of the leading real estate developers in the Washington, D.C. region with over 1.8 million square feet currently under development. Serving as Master Developer and investor in each of its projects, Duball bridges the gap between capital markets and the complex process of developing an asset. From gaining entitlements to capitalization, construction, asset management and disposition, Duball oversees the evolution of every project from start to finish. Its diversified leadership team combines decades of experience in construction, engineering, acquisitions, finance and project management.
Capitalized by several institutional investment funds, Duball is committed to delivering a diversified real estate portfolio with assets ranging from luxury for-sale product to high-rise, mixed-use developments and income producing assets. Duball has benefited from a focus on exceptionally located urban infill development. The team is actively pursuing additional opportunities to dedicate its proven track-record to exciting new projects in the D.C. Metro area.
About HFF: HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.