• Cortland, Washington DC, 45 UNITS

Asset Overview

  • 45 Units

  • 3 Buildings Collection

  • Washington D.C

Asset Details

As you might have seen, at the end of last year we went under contract on the Corland Portfolio located in the highly sought-after Woodley Park area of Washington D.C.

It’s a beautiful collection of 3 buildings of apartment homes consisting of 45 total units with the potential to add more.

The acquisition team has been working through the due diligence and acquisition process. We have started to meet with current tenants to make sure the tenants feel comfortable with the transition. The asset is 100% occupied but it is always a smart idea to build a relationship with tenants.

A critical part of this process is a physical inspection by the team and contractors. They will be inspecting the asset in February with invited key service providers and if everything is in order as we expect then we will continue to move the closing forward.

A couple of key highlights of why we like this deal so much:

  • High occupancy rate

  • Desirable location with high barriers to entry

  • Purchasing at a 6% cap rate with opportunities for value-added services

  • Extremely well kept

  • Proximity and access to many of the region’s major employment centers

     

More to come as this acquisition progresses.

View Our Other Investments

“Everyone should have access to the best commercial real estate investments. Not just the 1%.”

CalTier CEO & Founder
Matt Belcher

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