Project within walking distance of US Capitol and some of largest employers including hundreds of thousands of government and private sector jobs.
Sits (3) blocks of DC’s H Street Streetcar, running from Union Station, down H Street to Bladensburg Road.
Lack of under construction and planned condominium projects in DC due to lack of financing for large condo projects from housing crash of 2008 and the lack of suitable millennial buyers
Challenges
Lack of strong financing partners at the time of investment due to risk of new condo opportunities in urban infill location
Risk to investors from lack of extensive condo comparables
Risk of construction delays extending the investment period
Our Strategy / Investment Thesis
While larger, more complex condo projects was not of appetite, financings opportunities likely available for a smaller, niche condo project like this
Utilization of strong, local partnership ties with joint venture partners to execute deal on time
Project fit our firm’s investment thesis at time of investment – proving that well located, urban infill projects near major employment centers and transportation nodes is where young, educated, affluent and cultured millennials want to work, live and play.
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Northridge Capital is dedicated to providing a high level of personalized service for its clients. Northridge works mainly with overseas institutional and individual investors, especially those from the Middle East, to successfully define and implement customized strategies for investing in US commercial real estate.
