Located just west of the vibrant Logan Circle neighborhood, the 37-unit Lofts 14 II and the 20-unit Cooper Lewis properties are both upscale projects that entail the redevelopment of existing buildings. Both multifamily destinations are expected to open in 2005.
"This represents Corus Bank's third construction loan for Metropolis Development Co., covering four condominium projects," Corus Bank vice president John Ascher notes. "In addition to Lofts 14 II and Cooper Lewis, we are providing construction financing for their Lofts 14 and Langston Lofts projects." Cushman & Wakefield represented the joint venture in the transaction.
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