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Washington DC - Magenta Multi Family - A special project in the capital of the United States


Executive summary

Urbanico Realty Group and Nadlan Invest Offer an investment opportunity in the construction of a multi-family building containing 37 apartments (including 4 penthouses) + a commercial floor known as MAGENTA, Located on Central Bladensburg Avenue in Washington DC.

The property is located a 5-minute walk from the well-known and bustling H Street, which is considered one of the most sought after streets for commercial and residential use.

as well, The property is 10-15 minutes away from the White House, the US Capitol and-Amazon's new HQ2

The investment represents a unique offer, when the developer already purchased the land about 3 years ago, and managed to maximize the building rights in the land in a process that lasted 3 years and included, among other things, impressive design by one of the biggest names in the world - Karim Rashid.

Currently, the land is ready for immediate construction.

Thus, the developer invites investors to take part in the project with minimum risks and unforeseen expenses, and a real possibility for immediate ascent to the ground.

Upon completion of construction, the apartments and commercial complex will be rented, and the entire project will be sold as one piece after a period of about 12 months of stable rental of the project.

The project is expected to be completed within about 3 years.

To view the expected investment costs, the amount of the construction loan and its interest rate, and the total amount of equity required - you are welcome:

Contact us on this site by filling out the referral form, or by contacting us On the website of Nadlan Invest

2. Go to the full investment page in English if you are a qualified investor (registration required on the site)

Contact us as project support by filling out the form on this site or on Nadlan Invest And after a match check you will get the full information

The developer undertakes to invest 30 percent of the capital required for the project.

Summary of the offer

The Investment Initiating construction and management of a residential project for rent that includes 37 housing units + a commercial complex in the United States of America, Washington DC.

Project address 1200 Bladensburg Road NE, Washington DC, 20002

Total Project Costs (Contact us)

Investment Period The estimated duration of the project from the day it rises to the ground until the exit is about 3 years

Financing the transaction Total loan expected as (Contact us) At an interest rate of about (Contact us). The entrepreneur has a personal guarantee for the loan.

Financial structure The total equity required for the investment is (Contact us), The developer undertakes to invest up to 30% of the required capital.

Average rent expected in property | (Contact us)

Expected rent from the commercial area | (Contact us)

3 years | Expect an exit

30 percent | Up to 30 percent of the total equity will be invested by the entrepreneur

Investment strengths

Land with permits

The developer purchased the land in 2018, improved it and financed the entire project independently to date, including a lengthy process of planning, permitting and securing the various aspects of development such as a construction loan. Investors arrive at a low risk position with a minimum of unknown factors to the project. The project was designed by One of the world's leading names in the field of design - Karim Rashid. Investors enter into an existing company of the developer which owns the land.

Physical presence and proven experience in the local market

The company and its executives are located and live in Washington, D.C., and through related companies have a volume of activity of about $ 200 million. The company's executives have purchased, initiated and / or managed more than 500 housing units in Washington DC.

Personally guaranteed loan from the developer's managers

The loan component of the project will be taken on excellent terms and provided that the developer's managers are personally guarantors of the entire amount of the debt. A personal guarantee indicates the entrepreneur's confidence in the transaction and its resilience, thus ensuring an absolute identity of interests with the investors.

High investment of the entrepreneur

To date, the developer has invested more than $ 3 million in the land and is committed to investing up to 30% of the equity required to carry out the transaction. This commitment, which is higher than the market standard, also indicates a high level of trust in the quality of the transaction, and also strengthens the identity of the interests between the company and its investors and partners.

Strong location and resistant to crises

The market in Washington DC is considered one of the most stable and powerful markets in the country, thanks to millions of government jobs and government supporters. The market was the first to recover from the crisis in 2008 after experiencing a slight decline relative to other markets.

Flexible market

Washington DC Metro District It is the fifth largest labor market in the country with 3.3 million wage earners. The federal government is unquestionably the connection to the labor market but the market is very diverse and attracts many large employers like The new Amazon headquarters. Due to this combination of stable government jobs and continued growth in other areas, it is known thatWashington DC Market Extremely resistant to financial recession.

The property

The project will offer Unique and unprecedented design in the capital, the craft of architecture and interior design was personally entrusted to the super designer Karim Rashid and the collaboration of 3 international firms. The design emphasizes a smart and modern building that will address the urban lifestyle of the target audience without compromising on a unique design and living experience and at lower than average prices in the city.

The mix of apartments includes about 21 one-bedroom apartments, 9 one-room apartments + balcony, 7 two-room apartments and a commercial floor measuring about 3,800 square feet, with the goal of renting it out to a stylish cafe in accordance with the neighborhood's young style.
The total size of the project is 34,945 square feet spread over 5 floors, including the penthouse floor.

The building's equipment package is particularly rich and offers a variety of original accessories fromThe house of the creator of Karim Rashid.

It is planned that the project will offer to the tenants:

• Two ZipCar shared vehicles for rent by the hour.

The company offers a unique service to its registered members, in which you can enjoy easy access to the car whenever you need it, wherever you are. This is a subscription-based service that allows you to order a car and pay by the hour or daily rate, a rate depending on how long you need the vehicle and pay a monthly or annual fee of the order cost.

• Warehouses and indoor parking for bicycles.

• A mail room which is equipped with a computerized system from home The Amazon For packages of all kinds.

• Smart digital intercom that will allow tenants to receive guests through their mobile device.

• Hello Alfred Digital Assistant.

Copy of (Alfred) Master Logo.jpg

This app helps manage the tenants in the building and enables real estate developers and property managers to provide enhanced services and experiences to tenants. Residents of Hello Alfred buildings are assigned a personal home manager and can apply for service on the company's app. This way building management teams can run their buildings using a single platform.
Among other things, the application enables the management of receiving mail and parcels.

The company has raised $ 56.5 million in financing and operates in more than 20 cities.

• Storage rooms and internal bicycle parking

37 housing units, with a mix of one-room apartments, a room + a balcony ("Dan") and 2 rooms

95% expected occupancy rate in the property

5 floors which include a commercial floor and a penthouse floor

Average rent expected in property | (Contact us)
Expected rent from the commercial | (Contact us)

The designer - Karim Rashid

Karim Rashid is one of the most brilliant designers of his generation. Over 3000 designs currently in production, over 300 awards andWork in more than 40 countries testifies to the design legend - Karim Rashid.

Karim's ability to diversify gives him the ability to connect different areas of design and combine ideas, materials, behaviors, aesthetics from one typology to another, crossing boundaries and expanding consumer horizons.

Its award-winning designs include "ubiquitous" democratic objects, including the Garbo and Oh Chair trash can, interior design for the Morimoto restaurant, the Philadelphia and Semiramis hotel in Athens, exhibitions for the LG Hausys and the luxury car company Audi.

Kerim has taken part in design for companies like Dirt Devil, furniture for Artemide and, Magis branding for Citibank and Hyundai, high-tech products for LaCie and Samsung and luxury products for Veuve Clicquot and Swarovski.

Kerim's works are displayed in 20 "permanent collections" and he frequently participates in art exhibitions in galleries around the world.

Karim is a multi-year winner of the Red Dot Award, the Chicago Athenaeum Good Design Award, the Best Interior Design Award of the Year, and the IDSA Industrial Design Excellence Award.

He holds an honorary doctorate from Ontario College of Art and Design and Corcoran College of Art and Design.

Karim is a frequent guest at universities and conferences around the world and spreads the importance of design in everyday life. Kerim and his works have been featured in magazines such as Time, Financial Times, NY Times, Esquire, GQ and many others similar.

Karim has just released his 6th monograph, XX, Design Publishing (2015) which focuses on his last 20 years of activity.

His other books From The Beginning, Forma Edizioni (2014), Sketch, Frame (2012) include a monograph of 300 drawings and a computerized "rendering" of selected works, KarimSpace, Rizzoli (2009), Design Your Self, Harper Collins (2006), Rizzoli (2004) and I Want to Change the World, Universe (2001)

Magenta - Washington DC - Karim Rashid

An article from Channel 11 here about Karim Rashid

Magenta Project

Modern architecture in the capital of the United States.

The building consists of 5 floors spread over 34,945 square feet.

The building will include a private gym and a tenants lounge.

The property provides a unique and affordable alternative for high-tech professionals and young professionals looking for quality housing and quick access to the best that Washington D.C. has. offer In a trendy and renewable area that is undergoing strong and rapid gentrification.

Magenta - Washington DC - Upper View

Investment area

The number of residents in the city of Washington D.C. | 718,355 people

An amazing figure considering the fact that in and around the city there are double the number of government jobs and government supporters.

Median Family Income in Washington, DC | $90,842

 This figure puts the city at the top of the list with the highest median income in the United States.

Magenta - Washington DC - Property Market

 City information - Washington DC Metro

Magenta - Washington DC - The Capitol

The capital of the United States. In the last decade it has established its status as a city with the most stable economy in the country, and as one of the most sought after destinations for both domestic and international investors. Thanks to the United States government, which directly and indirectly employs over 1.5 million people, the economy remains relatively resilient to economic crises and is used by investors as a 'hedge' city. In recent years another layer has been added to the city thanks to the very positive migration of quality young people from all corners of the country. As a result, many international giants have moved their headquarters to the city to enjoy both proximity to the centers of power and to a young, educated and creative employment force. In November 2018, Amazon announced the establishment of its headquarters within the city limits, committing to about 25,000 employees with an average salary of $ 150,000, a figure that is already giving its signals in the local real estate market. Among other things, thanks to the recent elections and the tremendous development that Amazon is creating directly and indirectly, the city has a wave of development, investments and price increases that are expected to continue in the coming years.

Magenta - Washington DC - Statistics

34 | The median age in the city

17 | The number of Fortune 500 companies that have chosen the city as their seat

#1 | The most educated city in the United States

3-4% | Expect an increase in rent in the city in 2022

The Market - Washington DC Area

The Greater Washington area has experienced growth over the past two decades, with billions of dollars in new investment and a rapid increase in jobs, population, income and housing value growth. The region includes a diverse economy headed by direct and indirect employment related to the federal government. The regional economy is in the midst of a prolonged cycle of expansion led by the private sector, but the recent expansion of federal employment has recovered and is once again driving employment. The region includes 2,290,756 households and its population has grown by 28.1% since 2000. The population is expected to grow by an additional 5.9% from 2018 to 2023. The long-term forecast for the Washington metro remains strong and the region should continue to experience sustained growth given its benefits, such as labor force Has a higher education, a diverse economy, a growing health and technology sector, a high quality of life and a housing market that is steadily rising in value.

Washington DC Rating According to the NICHE.COM website

Link to Location Rating - Washington DC

Employment and Education in Washington DC Overview of main industries

The main industries of Washington DC are:

Government jobs

Technology

Tourism

בריאות

ביטוח

Education

Real Estate

Legal services

The Washington education industry has experienced strong job growth.

The education industry came in fifth in terms of adding new jobs for local employers. In the past month, 94 companies have registered open jobs for Washington employees in this area.

Top Things to Do in Washington DC - From government buildings, to museums, parks and also Amazon

Washington DC. It is full of attractions and attracts millions of tourists a year - if it is tourists from all over the world who want to be photographed with the background of the famous White House, the president's residence, visit the Capitol, the many presidential monuments and dozens of museums many of which are free.

the hood

The neighborhood is located in the eastern part of the city and enjoys a strategic location, walking distance to the prestigious Capitol Hill neighborhood, and a short distance to a wide range of private and government employers. 10 minutes from the White House, Congress and the Supreme Court. MBook minutes walk from H Street and 3 minutes drive from Union Market which are major entertainment centers for city residents. With a variety of restaurants, boutiques, theaters, bars and clubs, the whole area has become one of the most interesting and sought after in the city. In recent years, the neighborhood has begun to attract huge local and international investments, and billions of dollars in investment projects are in various stages of construction throughout the neighborhood. With NIS and sales prices rising from year to year, The neighborhood is now considered one of the best in the city and in the entire United States. USA TODAY Magazine Choose the neighborhood as one of the top 10 urban neighborhoods in North America!

The famous H Street / Noma neighborhood undergoing rapid gentrification

The development path east of the city center in recent years is clear - to Age Street, Union Market and up to Ivy City.

We have witnessed in recent years the influx of young and established crowd to the eastern area due to the high housing costs at the beginning of Reh H, which leads to rapid gentrification and construction of high-class residential complexes beginning to take over the area from all directions.

More than 2,000 multi-family rental housing units have been delivered and stabilized in the area over the past six years including Age Street.

Theaters, restaurants and entertainment venues are growing in the area.

North and less than 1.5 miles from Magenta, there is a Union Market area that generates a huge influx of pedestrian traffic as the development attracts people from all over the city with plenty of pop-up shops and food vendors.

Ivy City is experiencing a leakage from this growth and has contained new developments such as the Hatches project of warehouses and New City development that is under construction.

With the impact of Amazon on the Washington DC metro area. And a lack of available housing expected in the coming years, Magenta is about to become a successful addition to the community.

Magenta - Washington DC - H Street Noma Neighborhood

Magenta - Washington DC - H Street Statistics

5 minutes | Time to get to the business center in the city

31.5 | The median age in the neighborhood

$2,440 | Average rent in the neighborhood (RentCafe)

Magenta - Washington DC - H Street Points Recommendations

Execution company URBANICO - lines for its character

• Experts in the multi-family market - the most sought-after market in the United States

• Initiates projects in the most influential and powerful countries and cities in the United States

• The company, through sister companies fully owned by its managers and founders, has a team that includes more than 200 experts in the multi-family field and their sons:

◦ Analysis department specializing in transaction analysis and belief in the examination of assets prior to their acquisition

◦ Financial team specializing in locating and closing the best financing for the transaction

◦ Construction and property improvement team which manages the construction work

Richard Green - President of the company

President and partner in the company Richard b. Green, previously served as vice president of the Marriott hotel chain - the largest hotel chain in the world for over 25 years.

Mr. Green is a well-known public figure in the American business world, having served as chairman and board member of many public organizations and companies. Mr. Green engraved on his banner the values ​​of integrity, reliability and professionalism towards the company's customers, investors and employees.

Selected projects of the executing company

To watch the property details and images, check this deal on our Nadlan Real Estate Deals site:

Washington DC - Magenta Multi Family - A special project in the capital of the United States

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