Cortland Portfolio – Under Contract

45 Unit Portfolio Collection, 3 Building of apartment homes | Washington, DC

  • 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.

Updates About This Asset

  • WASHINGTON D.C PROPERTIES, CORTLAND, ONLINE INVESTING.

A successful asset inspection: Cortland

I recently returned from visiting the Cortland Portfolio asset in Washington DC with my team. This is always one of my favorite parts of the process because you get to experience the full breadth of what the asset has to offer. View the video below: https://vimeo.com/915315851/90cef5971f?share=copy There are two questions I like the team to ask during this process. "Would I live here?" If we get the chance to talk with the tenants; "What do you like about ...

  • CORTLAND, LATEST ACQUISITION, PORTFOLIO REALESTATE CROWDFUNDING

Cortland Portfolio

Exciting news to close out the year! CalTier Fund 1 is under contract for its latest direct acquisition: a beautiful 45-unit portfolio collection of 3 buildings of apartment homes in the highly sought-after Woodley Park neighborhood of Washington, District of Columbia. Our acquisition team has been working on this deal for months and we are excited to now have it under contract. It has been maintained exceptionally well and is in a very ...

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

CalTier CEO & Founder
Matt Belcher

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