“The Greenwich Group continue to play an important role in the growth of Calvano Development.  We have transitioned from a small developer funding projects at a local level to working hundred million dollar projects with global institutional capital.  The Greenwich Group have demonstrated an ability to work across the capital markets (both equity and debt) by adding value to projects through their underwriting, advocacy, and capital relationships.  They have been a committed partner to the expansion of Calvano Development as demonstrated by the successful capitalization of our multiple projects and Ventures.”

Mark A. Calvano
Calvano | Development

Greenwich Group Arranges $16.5 Million Sale of 1500 Westbranch Drive – a 5.86-Acre Re-Development Site in Tysons, Virginia

Former government leased building site slated for residential development

TYSONS, VA – Greenwich Group (“Greenwich”) has announced that it sold on behalf of its client, a 5.86-acre un-entitled redevelopment site to a Texas based residential developer.

Greenwich was the exclusive advisor on behalf of the owner, TH Real Estate, an affiliate of Nuveen, (the investment management arm of TIAA) in successfully securing a sale to the developer for $16.5 million.

The building was part of an office building portfolio TH Real Estate had purchased in 2004 from the former West*Group who had also been advised by Greenwich.  Until recently the entire building was leased to a Government Agency, which had been the sole occupant since it was developed.

The Greenwich team representing the owner was led by Greenwich’s Managing Partner, Peter Witham. Mr. Witham says “1500 Westbranch Drive produced a positive outcome.  Both Greenwich as Advisor and TH Real Estate as Seller worked closely to navigate and overcome a number of challenges during the marketing process to maximize value and insure execution”.

ABOUT THE GREENWICH GROUP:

Greenwich Group is a leading real estate capital advisory firm headquartered in New York, with offices in Washington, DC, San Francisco and Los Angeles. Its main focus centers around all aspects of real estate investment capital.  The firm offers four main business lines: Capital Markets (Debt & Equity Placement), Investment Banking and Structured Finance, Investment Sales and Development Services.

For more information about Greenwich:

www.greenwichgrp.com

Other Inquiries:

Alla Torres
Director of Marketing and Public Relations
alla.torres@greenwichgrp.com
Phone: (703) 525-8300 Ext. 7