Development joint venture for mixed-use site in Washington, D.C.’s NoMa submarket arrangedby HFF
WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has arranged a joint venture for the Central Armature Works site, a 106,000-square-foot, mixed-use development site adjacent to the NoMa/Gallaudet University metro station in Washington, D.C.
HFF worked on behalf of the land owner, Central Armature Works, to arrange the development joint venture partnership with Trammell Crow Company (TCC).
Located at 1200 3rd Street NE, the site is the future home of a mixed-use development with multi-housing units and street-level retail space, upon completion of PUD approval. Positioned in the burgeoning NoMa submarket of Washington, D.C., 1200 3rd Street NE sits at the confluence of the city’s fastest growing areas, including NoMa, Union Market and the H Street NE Corridor. The development site is adjacent to the NoMa/Gallaudet University metro station on the red line, providing connectivity to the entire metropolitan region.
The HFF team representing the land owner was led by Bruce Strasburg, Sue Carras, Walter Coker, Brian Crivella and Mike Stuart.
About High Street Residential
High Street Residential, a wholly-owned operating subsidiary of Trammell Crow Company, specializes in the development of multifamily housing. The company has a deep background in urban, infill mixed-use residential development, as well as the redevelopment or repurposing of existing facilities. Since 2000, the company has completed 6,125 units in over $1.5 billion in value with a current pipeline of more than 2,100 units valued at $540 million.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of June 30, 2015, TCC had $6.0 billion of projects in process and $3.7 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development or providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue) . For more information, visit www.TrammellCrow.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.