$116 MILLION LOAN SECURED FOR 373-UNIT APARTMENT PROPERTY IN D.C.

WASHINGTON, D.C. — Cassidy Turley has secured a $116 million loan for the next phase of Donatelli Development's Highland Park, which is located above the Columbia Heights metro station at 14th and Irving streets in Washington, D.C. Additionally, Cassidy Turley recapitalized the mezzanine and senior debt for the existing 229-unit Highland Park building. The new phase will adjoin the existing building for a total of 373 units. The equity for the new development and mezzanine debt for the existing building was provided by Invesco Real Estate, and the senior debt was restructured by Key Bank. David Webb and Jamie Butler of Cassidy Turley represented Donatelli in the transaction. Construction of the new phase is scheduled to begin this quarter.