WASHINGTON, D.C., June 26, 2014 - HFF announced today that it has closed the sale of The Woodley, a newly completed, multi-housing building in the Woodley Park neighborhood that will set the standard for luxury living in Washington, D.C. for the next generation.
HFF marketed the property on behalf of the sellers, The JBG Companies and CIM Group and the asset was purchased by TIAA-CREF free and clear of existing debt.
The Woodley, located at 2700 Woodley Road NW in Woodley Park, is close to Rock Creek Park, Dupont Circle and Cleveland Park about three miles northwest of downtown D.C. The Woodley is a collaborative design effort between David M. Schwarz Architects, Cooper Carry Inc. and VOA Associates. The exclusive, 212-unit luxury property has studio through three-bedroom units averaging 1,119 square feet each, which feature the very finest and detailed finishes including solid hardwood flooring, soaring ceilings, marble countertops, built-in appliances, private balconies and terraces. The amenity package at the property includes a resident club room with catering kitchen, library, fitness center, courtyard with reflecting pool, infinity edge pool, and an active rooftop experience where residents can cook and host guests outdoors while taking in the views.
The HFF investment sales team representing the seller was led by senior managing directors Dave Nachison and Alan Davis and directors Brenden Flood and Bret Thompson.
"The Woodley is the first luxury high-rise apartment building to be built in decades in Woodley Park, one of the District`s most prestigious and historic residential neighborhoods, and it will redefine the standard for luxury apartment homes in the D.C. market going forward," said Nachison. "The property will attract residents seeking the finest in rental living offering a timeless red brick design infused with modern comforts and will be unrivaled in first-class service and amenities."
"The Woodley`s unique mix of large format residences is designed to cater to a growing demographic of mature residents leaving upscale homes and seeking similarly high quality places to live in established urban neighborhoods," added Davis.
Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington metropolitan area. Since 1960, JBG has been active in the communities where it invests, striving to make a positive impact. More information can be found by visiting the company`s website: www.JBG.com, or by calling 240.333.3600.
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with approximately $569 billion in assets under management (as of 3/31/14) and is the leading provider of retirement services in the academic, research, medical and cultural fields.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (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 at twitter.com/hff.
DAVID R. NACHISON
HFF Senior Managing Director
ALAN M. DAVIS
HFF Senior Managing Director
KRISTEN M. MURPHY
HFF Associate Director, Marketing
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Source: HFF, Inc. via GlobeNewswire