JV Purchases Washington DC Multifamily for $49M
The partnership of Shimizu Realty Development Inc. and Capital Security Advisors LLC purchased The Shaw apartment community from Monument Realty.
WASHINGTON DC – Full-service real estate firm, Monument Realty has sold its multi-housing apartment community in Northwest Washington DC for $49 million, to a joint-venture partnership between Shimizu Realty Development Inc. and Capital Security Advisors LLC.
The multifamily asset, The Shaw, offers residents a rooftop terrace and lounge and smart home technology including mobile app building access, latch keyless entry, a virtual front desk and integrated parcel locker systems for deliveries. The apartment community’s units feature open layouts, city spa bathrooms, chef-caliber kitchens and private balconies.
Located near the neighborhoods of Logan Circle, U Street Corridor, 14th St. Corridor and Bloomingdale, The Shaw is situated adjacent to the Shaw/Howard University Station and the yellow line.
“In addition to the lively entertainment scene, The Shaw has unmatched proximity to Washington D.C.’s sought-after employment opportunities,” says Dennis Irvin, Capital Security Advisors president. “The emergence of this neighborhood and nearby areas has been increasing over the past several years and has even become a second base for the world’s largest e-commerce platform.”
JLL Capital Markets’ managing directors, Walter Coker and Brian Crivella and director, Robert Jenkins represented the seller and completed the transaction.
