Real Estate Investment Offering For Mixed-Use Development In Washington D.C. With 21.1% Target IRR

The real estate investment platform CrowdStreet has announced a new offering for a mixed-use development project in the residential area of Washington D.C., with a target internal rate of return (IRR) of 21.1%.

The Langston is a proposed, multifaceted, high-end mixed-use project in the highly sought-after Shaw neighborhood in Washington D.C. This project would feature over 200 high-end apartments, 15,000 SF of leasable retail space and underground parking.

This project is looking to leverage Washington D.C.’s strong rental market. In Q3 of 2021 alone, D.C. submarkets posted a 10% increase in rental rates for lease renewals in core D.C. properties. This, coupled with falling vacancy rates, only helps to bolster the argument for increased investment in the greater D.C. area.

Investment Highlights

This strength of the location really shines here. Situated just South of Howard University, The Langston would provide quick access to both the East End and Central Business District as well as the other surrounding neighborhoods thanks to Langston’s 99 Walk Score.

For those who can’t walk, Langston will be located across the street from the Central Metro. This Metrorail system provides access all across the D.C. area, including Amazon’s HQ2, Ronald Reagan Airport, and one mile from the I-35.

• Minimum investment: $25,000
• Target IRR: 21.1%
• Target equity multiple: 2.2x
• Target annual cash yield 2.5%
• Target investment term: 4 years

View CrowdStreet offerings on Benzinga’s Alternative Investment Screener

Deal Sponsor

The Langston is being offered by the prestigious sponsor Capstone Development. Since its inception in 2009, Capstone Development has over $1.2 billion in acquired and developed real estate scattered throughout the Southeastern United States.

Along with Capstone Development, this project will be co-developed by Quadrangle Development Corporation. Quadrangle Development Corporation was a natural co-developer, given its extensive experience in the Washington D.C. real estate investment industry. Both brands pride themselves on their ability to deliver quality assets and their ability to find quality tenants. Jointly, Capstone Development and Quadrangle Development Corporation stand to be a very formidable development team.

Photo: Courtesy of CrowdStreet