Thanks to a reader for sending.
From Mac Realty Advisors:
“MAC Realty Advisors, LLC (MAC), on behalf of NOVO Development Corporation, successfully arranged an investment from a boutique private equity fund for the acquisition and development of 1600 Pennsylvania Avenue SE, an existing used car lot located in the Capitol Hill neighborhood of Washington, DC. In addition, MAC placed a senior construction loan from a regional bank for the transaction, which closed on February 19, 2014
NOVO Development Corporation, headquartered on Capitol Hill within walking distance to the site, will build a five story, 77-unit residential building with a one-level parking garage.”