Investment Overview

Marcus & Millichap, as the exclusive listing agent approved by the United States Bankruptcy Court for the District of Columbia, is pleased to present an exclusive offering of nine (9) boutique multifamily apartment buildings which are located in the East of the River submarket of Washington, DC. The sale is subject to a Chapter 11 Bankruptcy process, offering investors a rare opportunity to acquire a portfolio of multifamily assets free from the Tenant Opportunity to Purchase Act (TOPA) process due to the properties’ bankruptcy status. This exemption is granted under §42-3404.02 of DC code. This portfolio provides a unique chance for an investor to acquire a significant footprint in the DC multifamily market with immense future potential for growth and development. The portfolio consists of nine boutique apartment buildings totaling 104 units located in Washington, DC. These properties offer an investor the opportunity to add value through stabilization of the assets. All properties were recently renovated, limiting an investor’s degree of capital expenditures upon acquisition. The portfolio features an ideal unit mix of one, two, three, and four bedroom units, creating the potential to efficiently capture market rental demand. The portfolio is located in the East of the River submarket of Washington, DC, and the properties are in close proximity to significant developments that will improve the infrastructure and amenities in the area. The most significant ongoing developments east of the river include The St. Elizabeths East Campus and the Skyland Town Center development. These two projects account for over $1 billion in development and are two of the largest ongoing developments in DC. The St. Elizabeths Campus, spanning 183 acres, is currently home to the Entertainment and Sports Arena and will have 13 total parcels of mixed-use development at completion. The Skyland Town Center development will feature over 450 residences and 135,000 square feet of retail space. The retail offerings include Starbucks, Lidl, Chase Bank, CVS Pharmacy, &pizza, Tropical Smoothie Café, and many other points of interest that will supplement the continued growth across the East of the River submarket.