Community Redevelopment has acquired a portfolio of membership interests in six commercial retail, multifamily and mixed-use properties in the Washington, D.C., metro area. The financial terms were not disclosed.
All the properties are both partially occupied and under continued development.
Myron Jones, head of development for Community Redevelopment Inc., said, “The acquisition of these six prime commercial properties showcases our foremost investment criteria, which consists of quality, well-positioned real estate in high-growth markets and demographics, anchored by strong, stable tenants. In the coming years, we believe that acquiring and developing class A investment assets in prime neighborhoods will yield strong returns.”
Community Redevelopment Inc. plans to deliver significant value to shareholders by developing and constructing high-quality, well-located projects at below market cost for its stabilized portfolio or to sell for a profit. The company
