WASHINGTON, D.C. (November 15, 2016) -- Northridge Capital, LLC, is pleased to announce its partnership with local developer The Fortis Companies on two, boutique condominium buildings that are being developed in Washington D.C.’s vibrant core. Together, Northridge Capital and FORTIS will deliver 74 brand new, luxury condominiums. These developments are located at 909 2nd Street, NE and 1628 11th Street, NW, and will cater to the needs of young urban professionals, “empty nesters,” and others looking for a luxury product in a live/work/play environment.
Pullman Place, located at 909 2nd Street, NE, is a 42-unit, boutique condominium that’s situated between NoMa, Union Market, and H Street Corridor, three of the District’s most dynamic and fastest growing neighborhoods. Totaling 41,000 gross square feet, Pullman Place will offer residents various amenities including a rooftop lounge and grilling station, private fitness center, and secured bike storage. Interiors will feature high-end gloss lacquered kitchen cabinets, quartz countertops, plank wood flooring and spa-inspired bathrooms. Pullman Place is nearing completion and units are currently being marketed on a pre-sale basis by Urban Pace, the exclusive sales and marketing team for the project.
The second D.C. development underway by FORTIS and Northridge Capital is located near Logan Circle, at 1628 11th Street, NW. The urban-infill project will feature 32 top-of-the-line luxury residential units. The Project is situated squarely in the heart of the Logan Circle neighborhood, just two blocks from 14th Street and three blocks from both the Shaw and U Street Metro stations. The condominium units will average 1,060 square feet, featuring best-in-class finishes and design, including 10’ ceiling heights, custom European kitchens, Bosch appliances, Caesarstone and marble countertops, Porcelanosa bathrooms, Waterworks bathroom fixture, floor-to-ceiling glass windows, large landscaped patios and barbeque areas. The building will also accommodate 20 below-grade parking spaces and a comprehensive amenity package that will far exceed other boutique developments in the neighborhood, including a fitness center, rooftop lounge, fully vegetated roof and a dog washing station. The project is targeting completion by 2nd quarter of 2017.
“We are thrilled to partner with FORTIS on these two developments. Each holds a prime location in D.C.’s hottest neighborhoods, within walking distance of transportation and endless dining, retail, and entertainment amenities. We believe project delivery will be perfectly timed, as the District is experiencing a shortage of luxury condominiums at the moment. These two boutique development opportunities are exactly what our investors are looking for, especially in markets like D.C. that have experienced such tremendous growth in a short amount of time,” said David Jackson, President of Northridge Capital.
Equity for both developments is being provided by Northridge Capital, LLC, on behalf of its overseas investors. Debt financing for both developments is being provided by EagleBank, which has been active in construction lending in the local Washington, D.C. metropolitan area.
About Northridge Capital
Northridge Capital, LLC, is an independent real estate asset management firm that has invested in more than 40 assets on behalf of investors, with a combined acquisition value of approximately $800 million. Based in Washington, D.C. since its founding in 1997, the company focuses on generating superior risk-adjusted returns for international high net-worth individuals and institutions. It acquires, manages and sells real estate assets across a wide variety of property types and geographic areas.
About The Fortis Companies
FORTIS is a Washington, D.C.-based real estate development and investment company that is focused on creating extraordinary multifamily residential and mixed-use projects. Their strength is in identifying underutilized properties in both long-established and developing neighborhoods and transforming them into sought after real estate assets through a thoughtful and creative vision. FORTIS believes that quality design and craftsmanship coupled with careful planning in exciting locations results in desirable and valuable real estate with a sense of permanence. FORTIS’ senior management has worked for some of the D.C. region’s most renowned developers including, Donohoe, Jones Lang LaSalle and Simpson Housing. With a combined 30 years of experience, FORTIS’ team has built more than 2,500 multifamily units in the D.C. region with a combined value in excess of $800 million.