WASHINGTON, DC - Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that Chris Doerr and Rachel Ley of the firm’s Multifamily Group are currently marketing the value-add East Capitol Apartment Portfolio, concentrated in eastern Washington, DC. The portfolio includes 26 buildings totaling 338 units plus an additional 2.14-acre development parcel, and is expected to trade for $30 million or approximately $89,000 per unit. Floor plans include efficiencies, one-, two-, and three-bedroom layouts.
The portfolio, which is currently 98 percent occupied, was assembled to provide a stable cash flow, while also offering significant upside via affordable housing conversions. The portfolio’s eastern DC location offers multimodal transportation options, with immediate vehicular access to East Capitol Street, the Baltimore Washington Parkway and New York Avenue (Route 50), as well as service by WMATA’s Metrobus. The DC Streetcar Benning Road extension, scheduled to debut this year, will provide residents connectivity between two Metrorail stations to Union Station and major commercial centers west of the Anacostia River.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North Americathrough a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.