A Manatt team led by Real Estate Partner Timi Hallem represented Lowe, a leading national real estate investment, development and management firm, and its subsidiary Concord Communities in the formation of a joint venture to acquire Stanton Glenn Apartments, a 379-unit affordable housing community in Washington, D.C. Manatt also served as co-counsel in documenting a $51 million acquisition and renovation loan, a portion of which will be invested in capital improvements to Stanton Glenn, including upgrades to the residences, common areas and infrastructure. The renovation is intended to improve Stanton Glenn’s position as a comfortable and welcoming affordable housing option in the community.
The Manatt team advising Lowe also included Real Estate Associate Laura D’Iorio.
For more information on this deal, click here.