(Posted January 15th, 2013 )
Altus Secures $39M for Glover Park Project
WASHINGTON, DC-Altus Realty Partners has secured $39 million to acquire and redevelop an existing project in Glover Park. The project, located 2251 Wisconsin Ave., will renovate the existing 30,000 square foot retail building, currently occupied by Washington Sports Club and Glover Park Hardware. An 81-unit residential building with a two-level garage on the existing rear parking lot will also be developed at the site.
MAC Realty Advisors LLL arranged the financing for Altus, placing $11 million in equity and a $28 million limited recourse senior construction loan. Chesapeake Realty partners is the master developer and Ellisdale Construction is the general contractor.
MAC says it was able to procure multiple joint-venture prospects that were interested in the project. “This project proves the depth and breadth of interested capital sources for well-located, urban in-fill sites,” says Bruce Levin, executive director with MAC, in a prepared statement. “We sourced both passive and active equity sources interested in moving forward.”
Glover Park is an upscale neighborhood dotted with higher-end restaurants and bars and retail and nestled off of Wisconsin Ave. In particular, a nearby Whole Foods Market is expected to drive demand for retail and residential tenants at the project.
Follow the link to view the full Article…
(Posted January 3rd, 2013 )
Ellisdale is no longer at the Rockville, MD Location. We have moved to the Following Addresses.
Please visit our contact us page for the links to Google maps if needed.
Home Office in Leesburg, VA
116 Edwards Ferry Rd. Suite E Leesburg, VA 20176
Washington, DC Office
3050 K Street NW Suite 201 Washington, DC 20007
Phone and Fax Numbers
Phone Leesburg: 571-293-8264 Phone DC: 202-810-1515
We welcome the changes and are excited for the changes that both locations are sure to bring. Thanks to all of you who we have done business with in the past and we look forward to expanding our current relationships and cultivating new ones in the years to come.
(Posted November 14th, 2011 )
Click on the link to view the Aritcle on Ellisdale’s Harrison Project… http://dcmud.blogspot.com/
(Posted November 10th, 2011 )
Our President (Kevin Ash) has completed his latest achievement by completing the Marine Corps Marathon in an amazing time of 3 Hours 46 Minutes. More importantly, he was able to raise an astonishing $20,000 for the Semper Fi Fund.
We here at Ellisdale are very proud of Kevin for his charitable and physical accomplishment.
He and all of us at Ellisdale would like to thank everyone who contributed.