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Margarite offers wellness-focused, high-end design and amenities.
Retail unit at 5211 Wisconsin Avenue NW to be used as two-month pop-up bookstore called Carpe Librum for D.C. based educational non-profit organization Turning the Page.
Refinancing follows $20M modernization of historic building, focused on sustainability, wellness, and amenities.
Marks fifth deal into Grosvenor's True North III Partnership.
The transaction represents the fourth deal within Grosvenor’s True North III Partnership, established in July with $300M to invest in equity and equity-like opportunities.
Grosvenor acquired the multifamily rental property in 2015 and subsequently completed an extensive repositioning program.
Marks third deal into Grosvenor's True North III Partnership.
Partnership to fund residential and mixed-use developments in U.S. and Canada. Commitment redoubled with additions to senior leadership in capital markets team.
Guberer to lead capital markets activities in North America from Washington, D.C. office.