X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TAKOMA PARK, MD-Developers of the proposed condominium project to be called Cedar Crossing have gotten a helping hand in financing the endeavor. CIG International LLC has provided $1.4-million in mezzanine funding for the New Legacy Partners project.

To be located a stone’s throw from the Takoma Park Metro station, Cedar Crossing will offer 49 residential units, as well as 1,200 sf of ground-level retail space and a 50-space parking structure. Construction on the project began in October and is expected to reach completion next year.

The funds complete the total capital needed for the project. “Demand for housing opportunities like those at Cedar Crossing is very high in the Washington, DC area,” says CIG executive vice president Bruce Levin. “CIG is pleased to be a part of such a strong project, with more than 50% of the residential space already sold.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.