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Bozzuto Management Commissions Luxury Model Apartment
HDG delivers high-end design for Washington, D.C. apartment community
TIAA-CREF Closes Second Deal with JBG This Month, Buying The Woodley
The JBG Companies and TIAA-CREF are doing business again. At the start of the month, JBG sold the The Louis at 14th/U, a residential and retail development located in the heart of the U Street Corridor-Logan Circle neighborhood, to the financial services firm. Now, the Chevy Chase-based company has closed the sale of The Woodley, a new residential development in Washington, D.C.’s desirable Woodley Park neighborhood. The price of the transaction was not disclosed. HFF arranged the sale between JBG and TIAA-CREF.
The Woodley to Bring 212 Apartments in Northwest D.C. next March
In a July news story, CBS MonyWatch ranked apartment rents in the Washington, D.C. area as the fourth highest in the nation, behind San Francisco, New York and Boston but ahead of Los Angeles or Miami. And Marcus&Millichap reports that rents will continue to grow throughout the year. Bad news for renters but great news for developers such as the JBG Companies. The Chevy Chase-based private real estate development firm plans to bring 212 high-end units to Northwest Washington D.C.’s desirable Woodley Park neighborhood in March 2014.
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