Community Redevelopment acquires majority membership interest in 12-property Washington, D.C., portfolio

Community Redevelopment has signed a letter of intent to acquire a 51 percent majority membership interest in a portfolio of 12 properties, which are both leased and under development, in the Washington, D.C., metropolitan region. Community Redevelopment sourced this opportunity off-market.

The transaction is expected to close during the first quarter 2022.

Garfield Antonio, president and COO of Community Redevelopment, said, “We are excited about our current pipeline portfolio, upcoming milestones and pending catalysts. Signing this letter of intent to acquire the majority membership interests in this 12-property portfolio obviously provides Community Redevelopment with an opportunity for growth. Once closed, the transaction will add significant assets to our balance sheet. This letter of intent on these properties is in line with our investment criteria that consists of quality, well-positioned real estate in attractive markets throughout the Mid-Atlantic and South