WASHINGTON, D.C. — Federal Capital Partners (FCP) has provided a $20.6 million mezzanine loan to finance the development of a 197-unit, Class A apartment community located at 1255 22nd St. N.W. in Washington, D.C.’s West End neighborhood. Eagle Bank provided the senior financing for the project, which will include the ground-up construction of a connected nine-story, 65-unit apartment building with five, two-story carriage homes with private parking. The development will comprise a mix of studios, one-bedroom and two-bedroom apartments, as well as a fitness center, rooftop pool and 5,000 square feet of retail space. The co-developers include Tasea Investment Co. and the Auger family. Peter Witham of The Greenwich Group International arranged the loan on behalf of the developers. Construction will begin in June.
The development at 1255 22nd St. N.W. in Washington, D.C., will comprise a mix of studios, one-bedroom and two-bedroom apartments, as well as a fitness center, rooftop pool and 5,000 square feet of retail space.
Federal Capital Partners Provides $20.6M Construction Loan for D.C. Apartment Community
267