EB5 Capital Celebrates Its 1900 Half Street Project Closing

Washington, DC – EB5 Capital announced today its $44.5 million preferred equity investment in Douglas Development’s 1900 Half Street project closed on March 5th, 2019, finalizing financing terms of the deal.

“We’re extremely excited to be one of the partners in this much-needed waterfront project,” said Brian Ostar, EB5 Capital’s Senior Vice President of Global Operations. “This is our third EB-5 project with Douglas Development and we’re looking forward to helping them contribute to the revitalization of Washington DC’s Buzzard Point neighborhood.”

EB5 Capital is contributing a $44.5 million preferred equity investment in Douglas’ office-to-multifamily housing conversion. The building will feature 453 units, over 15,000 square feet of ground-floor retail, and sits directly along the Anacostia River providing unmatched waterfront views. 1900 Half Street is currently under construction and on track to create over 1,300 EB-5 jobs. The 89 foreign investors in the EB-5 partnership hail from various countries, including Canada, China, Eritrea, Hong Kong, India, Iran, Israel, Korea, Pakistan, Russia, Taiwan, Ukraine, the United Kingdom, Venezuela, and Vietnam.

“We’re thrilled about the diverse group of EB-5 investors who joined this project,” said Jon Mullen, Senior Vice President of Investments. “Every EB-5 investor has a different set of criteria for what they would deem as a suitable investment. We’re proud this project was able to confidently meet the needs of our 89 EB-5 investors.”

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About EB5 Capital

EB5 Capital is a leader in the EB-5 immigrant investor industry, raising over $600 million in foreign capital from investors in more than 55 countries for investment in job-creating real estate projects across the United States. EB5 Capital owns and operates six USCIS-authorized Regional Centers that serve 15 states and the District of Columbia. With a portfolio of 25 projects, EB5 Capital maintains a 100% project approval rate from the USCIS. For more information, visit http://www.eb5capital.com.

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Construction Begins On $100M Highline At Union Market

Mayor Muriel Bowser was on hand Wednesday to mark the groundbreaking of the latest major multifamily project at Union Market.

Level 2 Development, Federal Capital Partners and Clark Enterprises broke ground on The Highline, a 318-unit apartment building with 10k SF of ground-floor retail at 320 Florida Ave. NE. The $100M project is expected to deliver in the first quarter of 2019.

The 12-story building will have a rooftop pool, and the developers plan to build a park next to the building that will give pedestrians easier access between the NoMa and Union Market neighborhoods.

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$100M Development Coming to DC

Federal Capital Partners, Level 2 Development and Clark Enterprises are building a luxury building with 318 units.

Washington, D.C.—Federal Capital Partners has partnered with Level 2 Development LLC and Clark Enterprises Inc. to develop The Highline, a $100 million apartment community in Washington, D.C.

Located at 320 Florida Ave., NE the community will include 318 luxury apartment homes including four penthouse units and approximately 10,000 square feet of first floor retail space.

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Joint Venture to Develop $100M Apartment Community in D.C.

WASHINGTON, D.C. — A joint venture between Federal Capital Partners (FCP), Level 2 Development LLC and Clark Enterprises Inc. plans to develop The Highline, a $100 million apartment community located at 320 Florida Ave. N.E. in Washington, D.C. The property will feature 314 residential units, four penthouse residences and roughly 10,000 square feet of first-floor retail space. Designed by Eric Colbert & Associates, the 12-story community will feature warehouse-style windows, materials reminiscent of rail cars and riveted steel columns.

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