2220 11th Street NW
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.
Details
Target Equity Multiple: 1.7x
Target IRR: 20.1%
Asset Type: Opportunistic
Deal Type: Core+
Sponsor: Forties Companies
Target Investment Period: 3 yrs
