WASHINGTON, DC—It is official: As we reported last week, there was talk that The Swift apartment building had found a buyer. On Monday Cassidy Turley confirmed the deal, announcing it represented DP Residential, LLC, an affiliate of Duball, LLC in the $75 million sale of newly-constructed building at 3828 Georgia Ave., NW. Buvermo was the institutional equity and Eagle Bank the third party construction lender for the mixed-use development project.
Christopher Doerr, Bill Collins and Paul Collins of Cassidy Turley represented Duball, LLC in the sale to Principal Real Estate Investors.
"Petworth has become one of the trendiest neighborhoods in Washington, DC," Doerr says in a prepared statement. "I give credit to Duball, LLC for their vision and I think the buyer will enjoy tremendous long-term success with the Swift Apartments."
The 218-unit building houses a 64,000-square foot urban concept Safeway on the ground floor and is located next to the Georgia Ave-Petworth Metro Station.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
