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Northeast Heights Town Center Update 05/07/21

$105M Construction Loan Secured for Northeast Heights Town Center

Cedar Realty Trust has announced the formation of a joint venture with Asland Capital Partners and the Goldman Sachs Urban Investment Group to manage the construction of the first phase of the Northeast Heights Town Center development. The team has also closed on a $105M construction loan from J.P. Morgan. The first phase of the nearly 2M square foot project will include a 6-story, 258,000 square foot office building to be home to the D.C. Department of General Services. Future phases of the development will include 1,350 apartments, a 70,000-square-foot grocery store, and 130,000 square feet of retail.

 

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