NEWS AND RELEASES
Tuesday January 2nd,
2007
Sonnenblick Goldman finances $346M purchase of portfolio
New York-based Sonnenblick Goldman arrange a $346 million loan for acquisition of a seven-property, multifamily portfolio in D.C.
The real estate banking firm was the exclusive adviser to a joint venture between affiliates of Ross Development & Investment and Rockwood Capital. Hypo Real Estate provided the financing, which includes fixed and floating-rate components.
The properties in the portfolio include Park at Landmark in Alexandria; the Glen Oaks complex in Greenbelt; the Summerlyn Place in Laurel; Cypress Creek in Hyattsville; and Cambridge Crossing, Sutton Walk and Lenox Court in New Carrollton.
Realty Management Services, an affiliate of Ross Development, is managing all of the properties.
The new owners plan to spend $46 million in property improvements.
The real estate banking firm was the exclusive adviser to a joint venture between affiliates of Ross Development & Investment and Rockwood Capital. Hypo Real Estate provided the financing, which includes fixed and floating-rate components.
The properties in the portfolio include Park at Landmark in Alexandria; the Glen Oaks complex in Greenbelt; the Summerlyn Place in Laurel; Cypress Creek in Hyattsville; and Cambridge Crossing, Sutton Walk and Lenox Court in New Carrollton.
Realty Management Services, an affiliate of Ross Development, is managing all of the properties.
The new owners plan to spend $46 million in property improvements.
