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National  + Virginia  + Apartments  | 

Chevy Chase Land Co. Claims Arlington MF

The Chevy Chase Land Company purchased 672 Flats, a 173-unit, newly-completed multi-housing community in the Ballston submarket of Arlington, VA. The seller was a joint venture between The Penrose Group and Clark Enterprises, Inc.

The $90 million sale and acquisition financing was handled by HFF. The team included Walter Coker and Brian Crivella on the sales side, and the debt placement team of Jamie Leachman, Chris Hew and Nicole Brickhouse arranged a 12-year, fixed-rate acquisition loan through USAA Real Estate.

672 Flats is a six-story community completed earlier this year located at the convergence of N. Glebe Road, Wilson Boulevard and Interstate 66. The LEED Silver, boutique community incorporates multiple green building elements blended with high-end, modern finishes.

“This transaction represents another example of the strength of the pre-sale market, not only for buyers, but also for the debt markets willing to purchase and lend on top-quality assets in core locations,” Coker said.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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