ROCKVILLE, MD—In case you hadn't heard, Westside atShady Grove Metro is almost ready to open its doors to itsfirst residents. As it preps for that, it is taking care of otherbusiness too. By that I mean, its developers, theBozzuto Group and EYA, haveannounced in recent days that they have secured financing andselected a leasing partner.
Namely, equity is being provided Carlyle RealtyPartners and the developers through a JV, andCitizens Bank is providing the debt.HFF arranged the JV and arranged the debtplacement. Last week EYA and Bozzuto Group announced thatKLNB's Ben Becker and Matt Skaletwill be leading the retail leasing efforts.
Meanwhile, the first wave of residential move-ins is expected inthe first quarter of 2016. EYA began building the project's 407townhomes in May.
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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.
