JV Equity | Office to Residential Conversion | Washington, D.C.
February 25, 2025
The Carlton Group has been engaged as the exclusive advisor to secure approximately $50 Million of JV Equity for an office-to-residential conversion in a highly sought-after neighborhood in Washington, D.C.
Key Highlights
- The total project cost is ~$200 Million.
- Projected deal level returns are ~35% IRR and a 2.5X Equity Multiple over a 3-year hold period.
- 7.4% Yield-on-Cost
- The Project will feature luxury rental units, ground-floor retail space 100% pre-leased to a major grocer, and a parking garage.
If you have interest, more detailed information will be provided upon request.
The Carlton Group – New York
535 Fifth Avenue |New York, NY 10017 | +1.212.545.1000
Michael Campbell
mjc@carltongroup.com
Daniel Bildner
dbildner@carltongroup.com
Brian Nuesi
bnuesi@carltongroup.com
Sebastian Camara
sebastian@carltongroup.com
Thibault Ferage
thibault@carltongroup.com
Ryan Miller
rmiller@carltongroup.com
Ruth Barone
rbarone@carltongroup.com
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JV Equity | Office to Residential Conversion | Washington, D.C.
