MAC REALTY ADVISORS REPRESENTS THE SELLER OF JEFFERSON SQUARE
On October 11, 2011, Jefferson Apartment Group purchased the future site of Jefferson Square (previously referred to as Addison Square) from Metropolitan Development, LLC who was represented by MAC Realty Advisors, LLC (MAC). Jefferson Square, formerly the site of Kelsey Gardens Apartments, will be a 281 unit, urban infill, transit-oriented project located in one of the best rental markets in the nation. This mixed-use redevelopment site is situated two blocks from the Mt Vernon Square / Convention Center Metro Station, and within walking distance of the heart of Downtown DC, the U Street Corridor, and other popular Washington neighborhoods.
“The demand and rental trajectory for this area will be amongst the highest in the City as new developments and retail amenities deliver over the next few years. Already the core bones of the neighborhood – from the historic turn-of-the-century town homes to the emerging row of art galleries on 9th Street near Blagden Alley – offer an immediate "Hip Factor" to the area,” said Andrew McAllister of MAC.
“The site garnered strong interest from both the regional and national development community, who recognize the strength of the Washington, DC residential market. We extend our congratulations to the buyer and seller of Jefferson Square,” said Bruce Levin of MAC. “We are seeing great demand for similar high-quality development sites.”
MAC Realty Advisors, LLC is a Washington, DC-based real estate advisory firm focused exclusively on the needs of multifamily developers, apartment building owners, and landowners in the greater Washington, DC Metropolitan region. MAC specializes in debt & equity placement, apartment building sales, in fill land sales, and advisory services. Founded by Bruce Levin and Andrew McAllister in 2010, the MAC team has tremendous regional presence and far-reaching relationships that have been fostered through decades of experience. To date in 2011, MAC has closed over $125 million in equity, debt, apartment sale, and land sale transactions.
About Jefferson Apartment Group
Jefferson Apartment Group (JAG), headquartered in McLean, Virginia is a full-service real estate firm specializing in multifamily and mixed-use real estate investments through acquisition, development, construction, and property management services. JAG is committed to creating and managing communities that are high quality, innovative and environmentally responsible for our investors and customers. For additional information on JAG please visit www.jeffersonapartmentgroup.com.
About Metropolitan Development, LLC
Established in 2000, Metropolitan Development LLC is leveraging the design, development, and management expertise of its principals to create the highest quality living environments for its customers. Located in the Washington, DC metropolitan area, the company's primary focus is creating residential and mixed-use communities in high barrier-to-entry markets throughout the mid-Atlantic, Northeast and Southeast Regions. By acquiring land for development in areas where value can be added, we are able to gain a strategic advantage in the market through unique development and a renewed sense of place. To find more information on Metropolitan Development please visit www.met-dev.com.
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