Linowes Represents Federal Capital Partners in Capitol Hill Development
Linowes and Blocher LLP represented Federal Capital Partners (“FCP”) and Insight Property Group (“IPG”) in the $21M purchase of the Buchanan School located at 1325 D Street, S.E. in Washington, D.C., which was financed in part with an acquisition and development loan from Citizens Bank. The site will be redeveloped to include 41 row houses and 41 condominiums and will be renamed Buchanan Park. Upon FCP and IPG acquiring the property, Linowes and Blocher LLP represented FCP and IPG in the sale to Ditto Residential of the portion of the site to be developed into condominiums. Before closing on the acquisition, Linowes and Blocher LLP represented FCP in the negotiation and documentation of FCP’s joint venture agreement with IPG and obtaining mezzanine financing. Linowes and Blocher LLP also represented FCP and IPG with respect to various pre-development activities, including negotiating rights to manage the property and to begin demolition work prior to closing.