Jones Lang LaSalle Inc.

07/30/2020 | Press release | Archived content

Northwest Washington D.C. apartments purchased in cash for $49M

WASHINGTON D.C. - July 30, 2020 - JLL Capital Markets announced today that it has closed the $49 million sale of The Shaw, a multi-housing apartment community in the Northwest Washington D.C. area.

JLL completed the sale from the seller, Monument Realty, to the buyers, a joint venture between Shimizu Realty Development (U.S.A.) Inc. and Capital Security Advisors, LLC.

The Shaw is located next to the D.C. area's most sought-after restaurants, shopping and entertainment, with the prominent Logan Circle, U Street Corridor,14th Street Corridor and Bloomingdale neighborhoods just a few blocks away. The Walk Score® for locals is 98 and 92 for Bike Score® with easy to access to all that the 'live-work-play' neighborhood has to offer, with nearly 70% of locals using public transportation, walking or biking to work. The Shaw is adjacent to the Shaw/Howard University Station and Yellow Line. For those who prefer to drive, the apartments are close to the 14th Street roadway that links directly to I-395 and Route 1.

'In addition to the lively entertainment scene, The Shaw has unmatched proximity to Washington D.C.'s sought-after employment opportunities,' said Dennis Irvin, President of Capital Security Advisors LLC. 'The emergence of this neighborhood and nearby areas has been increasing over the past several years and has even become a second base for the world's largest e-commerce platform.'

The Shaw apartments' design exhibits redefined living, from open layouts to city spa bathrooms touting frameless glass showers and ascent wall tiling to chef-caliber kitchens. Personal outdoor areas for residents include private balconies and breathtaking views of their city. In the main areas, The Shaw has a welcoming lobby filled with comfortable seating and atmospheric lighting, a rooftop terrace and lounge, and is powered by smart home technology - app friendly building access, latch keyless entry, virtual front desk and integrated parcel locker systems for deliveries.

'The Shaw is truly a trophy asset with exquisite design and superior apartment unit layouts. We are excited to add it to our portfolio,' continued Irvin.

The JLL Capital Markets team representing the seller was led by Managing Directors Walter Coker and Brian Crivella and Director Robert Jenkins.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Monument Realty, an award-winning, full-service real estate firm, has been leading the way by embracing challenges and creating opportunities for clients and investors since 1998. Monument Realty's development portfolio includes more than six million square feet of Class A office space, 4,500 residential units and several hotel properties valued at nearly $6 billion.

About Shimizu Realty Development (U.S.A.), Inc.

Shimizu Realty Development (U.S.A.), Inc. (SRD) is a real estate investment subsidiary of Shimizu Corporation (Shimizu) which is a leading construction company in Japan. Shimizu is powerfully expanding its real estate business outside of Japan not only in the US, but also in Southeast Asian countries, including Singapore, Indonesia, and Vietnam.

Capital Security Advisors, LLC (CSA) is a privately-owned investment and asset management firm focused on infrastructure and commercial real estate. CSA seeks to provide investors with attractive risk-adjusted returns from funds and direct investments in high quality assets that are beneficiaries of long-term demographic and secular trends. CSA also provides domestic and international investors with strategic advisory services to optimize portfolio values and to assist in transaction execution.