Grosvenor Americas closes its first structured development loan in Washington, D.C.

Grosvenor Americas’ Co-Investment team has provided $5.77 million in financing for Madison Investments’ Elysium Logan, a residential property located at 1427 and 1429 Rhode Island Avenue, NW. 

29th July 2015

Grosvenor Americas’ Co-Investment team has provided $5.77 million in financing for Madison Investments’ Elysium Logan, a residential property located at 1427 and 1429 Rhode Island Avenue, NW. 

“We are excited to provide development financing to Madison Investments on what is assured to be a quality residential asset that will prove to be successful in this area,” said Scott Brody, Senior Vice President at Grosvenor Americas. “Madison Investments prides itself in bringing the highest quality to Washington’s residential market, which is reflected in every detail of their developments and Elysium Logan truly stands out.”

The Elysium brand represents a new line of luxury properties by Madison Investments. Elysium Logan will be an eight-story building with 32 luxury residences in the Logan Circle/14th Street corridor. Located around the corner from Whole Foods, it is in close proximity to Washington’s best dining and entertainment.  When completed in December 2016, the building will offer high-end finishes sought after by the city’s most discerning buyers.

The 14th Street corridor between Logan Circle and U Street features excellent neighborhood retail amenities in the immediate vicinity of Elysium Logan, and is a short walk from Dupont Circle, U Street and Downtown.

“Elysium Logan will be an attractive new addition to Logan Circle and the vibrant 14th Street corridor,” said Sia Madani, President of Madison Investments. “Working with Grosvenor, who understands the strength of this area, has been an excellent fit for our team.”

Grosvenor Americas’ Structured Development Financing program has invested in more than 50 projects to date and is active in Washington, D.C., San Francisco, Los Angeles, Seattle and Vancouver. It provides flexible equity financing to residential and mixed-use developers, and offers access to Grosvenor’s diverse real estate expertise.

ENDS

For more information contact:
Julie Chase
CEO, Chase Communications
+1 415 710 7180
jchase@chasepr.com

Patti Glass
Director of Marketing, Grosvenor Americas
+1 604 640 3535
patti.glass@grosvenor.com

Notes to Editors

Group

Grosvenor Group has 17 offices in 11 countries and assets in 16 countries. The Group has regional investment and development businesses in Britain and Ireland, the Americas, and Asia Pacific. The Group’s international fund management business operates across all these markets and Continental Europe. It also has indirect investments, managed centrally. Unusual for a private company, Grosvenor publishes a detailed reporting suite - Annual Review, Financial Statements, Environment Data and index of sustainability reporting under the GRI initiative - available at: www.grosvenor.com 

Grosvenor Americas

Grosvenor Americas aims to become a market leader in select geographical areas and sectors in Canada and the USA through focused, strategic expansion. Grosvenor Americas uses their knowledge of the cities they work in and their property skills to develop projects that contribute to the vibrancy and attractiveness of those communities. With a specific interest in retail, residential condominiums and apartments, and mixed-use sectors, the Company currently operates in Washington, D.C., Seattle, San Francisco, Los Angeles, Vancouver and Calgary. As at 31 December 2014, Grosvenor Americas had assets under management of $2.3B USD. 

About Madison Investments

Founded in 2006 and the vision of founders Sia and Barry Madani, Madison Investments is a family-owned and operated real estate development firm located in the nation’s capital. The firm’s focal point is the renovation and ground-up development of buildings in the District. The firm’s management team has worked together in Washington D.C. and its surrounding markets in varying capacities for over 25 years. The progressive growth of Madison’s experience and expertise matches the trajectory of the company’s burgeoning portfolio. Madison Investments was the proud recipient of the 2012 Delta Associates Award for Best Mid-Atlantic Condominium Development for its completion of the 1020 Monroe Condominium in the heart of Columbia Heights. For more information, please visit www.madisoninvestments.net

View all Grosvenor contacts