EagleBank Provides Financing to Perseus TDC, Transwestern Development Company and Griffin Capital for the Construction of a Class-A Multifamily Complex in Hyattsville, MD
18 Juli 2022 - 12:00PM
EagleBank, one of the largest community banks in the Washington,
D.C. area, today announced it provided financing to Perseus TDC,
Transwestern Development Company and Griffin Capital for the
construction of Residences at The Six (“The Six”), a 7-story,
313,972 sf, 316-unit apartment complex located in Hyattsville, MD
in Prince George’s County.
Projected to be completed in late summer 2024,
the property is located inside the Capital Beltway at 6400 America
Boulevard, Hyattsville in the vibrant University Town Center. The
building is designed for National Green Building Standard (NGBS)
Gold certification, and will include 2,052 sf of ground floor
retail and a 276-space above grade parking garage. Amenities will
include a top-floor pool terrace and recreational space, a 2-level
fitness center, an interior courtyard with seating, grills, and
fireplaces, refrigerated package room, storage room, pet spa and
bike room.
Within short walking distance to the University
of Maryland and close to the Discovery District, a public-private
research hub, The Six is situated in a thriving community with easy
access to transit – just a ¼ mile from the Prince George’s Plaza
Metro (Green/Yellow lines), employment hubs, educational and
cultural institutions, and other life-enhancing amenities.
“As a trusted community lender, EagleBank is
committed to delivering tailor-made solutions for our clients
across all sectors and markets,” said Ryan Riel, EVP and Chief Real
Estate Lending Officer. “We’re proud to be involved in such an
exciting project in the heart of one of Prince George’s County’s
most thriving neighborhoods.”
“We are proud that The Six has achieved all
three goals of the Metropolitan Washington Council of Governments,
which in combination aim to provide much-needed housing in areas
considered ‘activity centers,’” said Nihar Shah, Vice President of
Development at Perseus TDC. “The project also injects capital
investment into an area that the federal government has designated
as an Opportunity Zone, helping to realize regional and national
goals.”
The transaction was facilitated by members of
EagleBank’s experienced commercial real estate team, including
Senior Vice President and Market Executive Barb Mackin, and
Portfolio Manager Michael Scarpaci.
About Eagle Bancorp, Inc. and EagleBankEagle
Bancorp, Inc. is the holding company for EagleBank, which commenced
operations in 1998. EagleBank is headquartered in Bethesda,
Maryland, and conducts full service commercial banking through 17
offices, located in Suburban, Maryland, Washington, D.C. and
Northern Virginia. EagleBank focuses on building relationships with
businesses, professionals and individuals in its marketplace.
About Perseus TDCPerseus TDC, an affiliate of
Transwestern Development Company, invests alongside its financial
partners in well-located Washington, D.C., metro area properties,
adding value through skilled entitlement planning, design, risk
management and operations. The firm draws upon its principals’
expertise in developing office, hospitality, multifamily, retail
and mixed-use real estate, refined through decades of experience.
Based in Washington, D.C., Perseus TDC wields the capabilities of a
national firm with the dexterity of a local developer. Visit
perseustdc.com for more information.
About Griffin Capital Company
Griffin Capital is a leading alternative
investment asset manager headquartered in El Segundo, California.
Founded in 1995, Griffin Capital has owned, managed, sponsored or
co-sponsored investment programs encompassing approximately $22
billion in assets.1 The Company’s senior executives and
employees have co-invested over $300 million in various investment
verticals, aligning Griffin Capital’s interest with those of its
more than 200,000 investors. The Company leverages the breadth and
depth of its cycle tested investment management teams to capitalize
on long-term economic trends and secular growth opportunities in
the real estate sector through direct investment strategies.
1Includes estimated total project costs for assets under
construction.
Additional information is available at:
www.griffincapital.com.
About Transwestern Development
CompanyTranswestern Development Company (TDC®) creates
value through the execution of development projects for itself, its
partners and valued clients throughout the United States. Part of
the Transwestern companies, the diversified business develops
logistics, multifamily, office, mixed-use and healthcare
properties, with a pipeline of projects in process or completed
since 2012 exceeding $7.1 billion.
EagleBank ContactVikki Kayne, Chief Marketing
Officer 301.986.1800
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