NixDevCo, LLC also Credited in Journal Article
NixDevCo, LLC and The Hampstead Companies were credited with creative solutions, in the Novogradac Journal of Tax Credits. Read the Article.
News
UrbanMatters Development Partners, L.L.C. Receives 2015 Preservation Award for House of Lebanon Affordable Housing
“This project will leave a legacy of authentic community development. It is only fitting that citizens of the Truxton Circle community, during their senior years have an opportunity to live in high quality and affordable housing in their own neighborhood”, says Raymond L. Nix, President of UrbanMatters.
Watch the Full Brightwood Groundbreaking
Mayor Bowser Joins Groundbreaking in Brightwood Neighborhood
Mayor Muriel Bowser joined District residents and developers for the groundbreaking of the Brightwood Portfolio, a plan to create and preserve 140 affordable apartments for families across three historic buildings in Ward 4’s Brightwood neighborhood. Read the full story.
Greysteel Arranges the Sale of Brightwood Portfolio
The Greysteel Company, a Washington, D.C. based real estate investment services firm, has arranged the sale of the Brightwood Portfolio; three classic walk-up apartment communities in Northwest Washington, D.C. The 130-unit portfolio consists of the Concord, the Valencia and the Vizcaya, all situated south of the Walter Reed Campus redevelopment site and north of the Petworth neighborhood between 16th Street, NW and Georgia Avenue, NW.
Greysteel’s multifamily division led by Ari Firoozabadi, W. Kyle Tangney, John Mullen, Caleb Brown, Lance Ahmadian, and Mike Bediones served as exclusive advisor and agent to Bernstein Management Corporation (“BMC”) in the successful disposition of the Brightwood Portfolio to The Hampstead Companies of San Diego, CA in partnership with D.C. based NixDevCo and the portfolio’s Tenants Associations. The purchaser acquired the properties with bridge financing from Citi Bank, AIA (Affordable Investment Advisors), and LISC (Local Initiatives Support Corporations). The Hampstead Companies is seeking permanent financing from the District of Columbia’s $100 million affordable housing fund along with tax-exempt bonds and 4% low-income housing and historic tax credits.