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NEWS & NOTABLES
ROSSLYN, VA–Monday Properties has announced that Evan Dreilinger joined the company as SVP, General Counsel. In this newly created role, Dreilinger will oversee all legal matters for the company. Prior to joining Gramercy, Dreilinger was an associate with Proskauer Rose in New York where, among other assignments, he represented Boston Properties in their $4 billion acquisition of the General Motors Building and 3 additional buildings from Macklowe Properties in 2008.
WASHINGTON, DC–Monument Realty has secured an equity investment for the seven-story, luxury high-rise building it is developing at 618 T St., NW, next to the Howard Theater. MAC Realty Advisors has placed $13.75 million in development capital, sourced from a privately owned, global investor. The project, called Ellington Plaza, will have 65 luxury condominium units and ground floor retail. It is expected to deliver next year. MAC fielded interest from a number of investors, according to Senior Director Nick Rubenstein.
“618 T St., NW, will stand out in the Shaw neighborhood,” said Michael Darby, Principal of Monument Realty in a prepared statement. “The project will offer residents the best of DC, while also delivering best in class unit designs and finishes.”
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.
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