PENINSULA 88

Washington, DC SW

Our largest investment to date, the Peninsula 88 project is planned for the development of 110 waterfront condominiums (including private parking) and main floor retail space, overlooking both the Anacostia and Potomac Rivers.  This site and location offers the property unmatched water views of both eloquent and scenic rivers.  In addition, the property is only two blocks from the newly planned $300 million DC United Soccer Stadium (has already broken ground), seven blocks to Washington Nationals Baseball Stadium, and the $600 million Phase 1 replacement of the South Capitol Street Bridge that crosses the Anacostia River.  Today Buzzard Point is one of Washington DC’s last large track redevelopment sites. The significant public investment planned will transform the public realm and accelerate redevelopment of the area.

 

Sponsor Partner:  Capital City Real Estate (CCRE)

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RIALTO

Washington, DC NE

The project consists of the purchase, development and construction of a single multi-story building including ground floor retail space, 74+ 1BR and 2BR condo units, and 20+ underground parking spaces. The property was purchased in November 2017, completed the plans approval and building permit process and has started construction.  Planned construction time is 10-12 months. Sales & Delivery is expected to take 6-8 months for a total project timeline of 46 months with delivery and closeout scheduled for mid 2021. The project borders four well established neighborhoods in the NE quadrant of Washington DC (Eckington, Bloomingdale, Edgewood and Brentwood) and is better known as “Rhode Island Row.” Rhode Island Row embodies urban style and energy, convenience and convergence. A lively scene of restaurants, shops and services, topped with bright and spacious apartments right on the Red Line. Current retailers and restaurants include: Carolina Kitchen, Chipotle, Dunkin’ Donuts, Jersey Mike’s Subs, Smoothie King, TKO Burger, CVS and several service providers.

 

Sponsor Partner:  Capital City Real Estate (CCRE)

Company Website

THE INDIE (EDGEWOOD)

Atlanta, GA

Our first residential and mixed-use development project in Atlanta, the Edgewood project consists of the purchase, development and construction of a single multi-story building including ground floor retail space, 100 1BR and 2BR condo units, and 190+ above the ground parking spaces. The property was purchased in May 2018, completed the plans approval and building permit process and has started construction.  Planned construction time is 16-18 months. Sales & Delivery is expected to take 8-10 months for a total project timeline of 45 months with delivery and closeout scheduled for early 2022. The Property is located in the Old Fourth Ward neighborhood of Atlanta which is seeing significant development and growth over the past few years and is within a few blocks of the Atlanta Beltline, Krog Street Market and Ponce City Market.

 

Sponsor Partner:  Capital City Real Estate (CCRE)

Company Website

COLUMBIAN QUARTER

Washington, DC SE

This project presents an opportunity to participate in the development of up to 2.45M residential & commercial mixed-use space located in SE Washington DC, known for its beautiful waterfront views & increasing demand for property. This will be the first joint venture opportunity for JID Investments LLC (JIDI) with Redbrick LMD. The sponsor has decades of experience in real estate acquisition, entitlement, renovation & development of commercial, residential, multi-family and mixed-use properties. The project has the potential to last up to 10 years+ but will afford multiple liquidation opportunities for JIDI and its investors to exit or choose to remain. This investment will evolve from development to a buy and hold investment.

 

Sponsor Partner:  Redbrick LMD

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DEERBROOK & CHIMNEYS

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Wilmington, NC and Greenville, SC

This opportunity presents JIDI an investment in two separate apartment complexes with the same Sponsor. The first property (Deerbrook) is located in Wilmington, NC. The second property (Chimneys) is located in Taylors, SC (inside of Greenville County) & less than 8 miles from the city of Greenville. These properties will be purchased to modernize, gain efficiency & resell allowing for investment diversification through two separate multi-unit assets. The investment will include quarterly cashflow & well positioned investor returns through sales of both properties. Total investment period is projected between two & five years but targeting three years.

 

Sponsor:  Cohen Investment Group (CIG)

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Deerbrook:

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Chimney:

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RHODE ISLAND AVENUE NW

Rhode Island Avenue ClientRhode Island Avenue Client

A small renovation of a Single-Family Rowhome in a well established and sought out neighborhood of NW Washington DC with a 3-5 minute walk to the Shaw-Howard University Metro Station and Logan Circle. Walk Score ranks this location at a 96 out of 100 for a “walker’s paradise” and 99 out of 100 for a “biker’s paradise.” Several restaurants, amenities and shopping very close by.

Our investment partner plans to conduct a full renovation of the 3-level property with rehab and upgrades to the kitchen, bathrooms, basement, flooring, bedrooms and common areas. We will add a half bathroom on the main level to make the home a 3 bedroom 2.5 bathroom property. Expected completion is for August 2019.

THE SHERMAN

The Columbia Heights neighborhood is a culturally diverse neighborhood in northwest Washington DC.  It is a major night life area with many bars and restaurants along the primary commercial district of the 18th Street Corridor.  Much of the neighborhood is composed of 19th and early 20th century row houses. The property is blocks away from 18th Street (the main commercial district of Adams Morgan) and very close to the Harris Teeter grocery store. This property was given a Walkscore of 97 out of 100 (Walker’s Paradise).  This property is conveniently located within walking distance of Dupont Circle, Adams Morgan, the “U” Street Corridor and 14th Street. These four neighborhoods continue to be at the center of DC’s most desirable areas for young professionals and urban condo buyers. The property was purchased in 2015 and completed construction in Spring 2018.  The approved plans called for 20 condo units and under ground parking spaces. Project closeout was in November 2018 with investors realizing a 23.3% project return on investment (15.3% annualized).

THE ONTARIO

Ontario Street was planned as a 14 unit condominium development and construction project in the Adams Morgan neighborhood of DC NW. The project closed in early 2017 and shortly thereafter it was pursued by a local area developer for purchase, development, construction and sale. Both JIDI and our DC partner agreed to the sale. Returns for the project over the 7 month duration eclipsed 11.8% (20+% annualized).

49th STREET

Washington, DC NE

SE Washington DC is located south of East Capitol Street and east of South Capitol Street. The quadrant includes Capitol Hill, the Supreme Court, the Library of Congress, the Washington Navy Yard, the Marine Barracks, Fort Dupont Park, the Anacostia Waterfront, Eastern Market, St. Elizabeths Hospital, RFK Stadium, Nationals Park, the Frederick Douglass National Historic Site and the Anacostia Community Museum. SE Washington DC has a mixed population with politicians and government employees, journalists, professionals, and students residing in the Capitol Hill neighborhood. The area is undergoing a massive transformation and is one of the city’s fastest-growing in terms of employment, entertainment and residential growth.

This property is located in the Marshall Heights area of southeast Washington DC.  The property is 16,000 square feet & was developed for single-family residential use to build 8 townhome units at 2-3 bedroom and 2-3 bath, 2400 square feet each with two parking spaces behind each unit. This property is located less than a half mile from the Benning Road metro which is on both the Blue and Silver lines just two stops from Eastern Market in Capitol Hill. The project concluded in September 2017 with the sale of the land prior to construction of the townhomes. JIDI earned a return of 40% over the project duration (32% annualized).

17th STREET

Washington, DC NE

One of the newest investments in our portfolio, this 180+ unit multi-family project is nestled in the heart of the H-Street Corridor of Washington, DC NE.  The Property is closely situated to several retail and dining options, entertainment and nightlife amenities, national landmarks and thousands of employers. The property is well positioned to capitalize on one of the nation’s strongest economic and residential markets.

JIDI invested in the purchase of one of two parcels of land and remained in the project until the land was entitled with proper zoning.  Following the entitlement process JIDI was refinanced by another private equity company who will be taking the project to it’s final completion. JIDI investment plus proceeds were recapitalized at a return of 50.7% over the project duration (over 30% annualized).