Micro-Unit Apartments

2220 11th Street NW

Washington, D.C

Description

A 60-unit, Class A, multifamily apartment development in the Shaw neighborhood of Washington, D.C., comprised of Junior 1-bedroom micro-units that offer an affordable price point in one of the district’s most desirable neighborhoods.

The micro-units provide an affordable solution for renters at a higher cost per square foot for owners. Its unique location in Shaw is a 10-minute bike ride to the White House, steps from 14th Street and U Street retail and restaurant corridors.

211StreetMicroUnits

Details

Target Equity Multiple: 1.7x

Target IRR: 20.1%

Asset Type: Opportunistic

Deal Type: Core+

Sponsor: Forties Companies

Target Investment Period: 3 yrs

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