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WASHINGTON, D.C. — MAC Realty Advisors has arranged a $21 million investment from a private equity fund for the acquisition and development of 1600 Pennsylvania Avenue SE, an existing used car lot in Washington, D.C.’s Capitol Hill neighborhood. MAC also arranged a senior construction loan through a regional bank on behalf of the borrower, NOVO Development Corp. NOVO plans to build a five-story, 77-unit residential project with a one-level parking garage. Andrew McAllister, Bruce Levin and Ben Lazarus of MAC led the placement effort on the transactions.