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NVCapital Advisors Acquires Interest in Dominion Heights Residential Project in Arlington, Virginia

 

First Acquisition for NVCapital Advisors in NVCommercial Real Estate Fund I

 

Arlington, Virginia - January 26, 2012 – NVCapital Advisors (www.nvcapital advisors.com), the manager of NVCommercial Real Estate Fund I, LP, has acquired a JV interest in Dominion Heights, a proposed 66-unit residential condominium with 8,000 square feet of retail space in the Cherrydale neighborhood in Arlington, Virginia, located at Lee Highway and Monroe Street. NVCapital Advisors was approached by the Christopher Companies to provide new equity into the stalled project.

NVCapital Advisors and other co-investment partners provided $4 million of new joint venture equity to the project.  The professionals of NVCapital Advisors helped arrange the debt financing and worked with the Christopher Companies to redesign the project with smaller units targeted to young professionals and “millennials”. The units were priced accordingly, with one bedroom units to be marketed from the low to mid $300s and two bedroom units to be marketed from the mid-to-high $400s. David Klimas of McWilliams|Ballard (202.431.1272) is now selling units in the project with a model delivering in late Spring, with units being ready for occupancy in the Fourth Quarter of 2012.

NVCapital Advisors seeks to become the premier provider of real estate capital in the $2 to $10 million range in the Greater Washington Metropolitan Area. NVCapital Advisors invests in all property types.

For your capital needs, please contact Peter Lunt ([email protected]) at 703.448.4306 or Matt Weber ([email protected]) at 703.448.4309.

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Investment advisory services offered through NVCapital Advisors, LLC a Registered Investment Adviser with the Virginia Securities State Corporation Division of Securities and retail Franchising. NV Capital Advisors does business only in states in which it is registered and/or licensed. The information and opinions contained in the website are provided for informational purposes only and are subject to change without notice. Nothing contained on the website constitutes investment, financial, legal, tax or other advice nor is to be relied upon in making an investment or other decision. Nothing on the website should be construed as a solicitation or offer, or recommendation, to acquire or dispose of any investment or to engage in any other transaction.