|Current Ann. Return||–|
|Accrued Ann. Return||+
|Gross Ann. Return*|
|Current Ann. Return||–|
|Accrued Ann. Return||–|
|Gross Ann. Return*||9.7%|
|Term Remaining||– of –|
1539 7th Street NW is a 3,600 square foot building located in the heart of the rapidly growing Shaw neighborhood. Within walking distance of two metro stations, the property is ideally situated between the 1.5 million square feet of development currently underway. WestMill Capital Partners plans to redevelop the property and lease it to a first class restaurant/retail tenant.
|Capital Senior to Fundrise||60-69%||3|
|Capital Junior to Fundrise||10-19%||4|
|Sponsor’s Track Record||Less than $50 million||3|
The information contained in the Fundrise Rating is for informational purposes only. It is impersonal and not individualized for any specific investor's financial situation and is not investment advice. These ratings are not intended to be, nor should you interpret them to be, a prediction of how a particular investment will actually perform. You should always carefully consider investments in any security and be comfortable with your understanding of the investment. You may also consider consulting investment professionals.
|Type||Source||% of Total||Amount|
|Common Equity||Sponsor & Private Investors||15.2%||$200,000|
|Common Equity||Fundrise Offering||19.0%||$250,000|
1539 7th Street NW, Washington, DC is currently vacant. The developer, WestMill Capital Partners, plans to lease the building to a local retail or restaurant business. Once a lease is signed, the tenant will begin construction to upgrade the building for their proposed use. Once construction is complete and the tenant is open for business, they will begin paying monthly rent. WestMill estimates that it will take approximately 6 - 9 months to complete the leasing process.
|Address||1539 7th Street NW|
|City & State||Washington, DC|
|Product Type||Retail / Restaurant or Bar|
|Project Phase||Value-Add / Cosmetic Renovation|
Shaw has long been one of the entertainment and cultural hubs of Washington, DC. During the early 20th century the neighborhood was considered the preeminent center of African American intellectual and cultural life, home to residents such as Langston Hughes and Duke Ellington. Bounded by Howard University to the North and the Washington Convention Center to the South, Shaw is home to legendary music and entertainment venues including the Howard Theatre and 9:30 Club.
Today, Shaw is experiencing an unprecedented amount of urban renewal and growth. Along the five-block corridor of 7th street, directly north and south of the property, there are over 2 million square feet of development underway. Over the next two years more than 2,000 new residential units will be delivered within a half-mile radius. The neighborhood is served by two metro stops, both within 3 blocks walking distance of the property.
The renewed energy and development has attracted some of the city's top chefs and a number of new restaurants including Rogue 24, SUNdeVICH, Seasonal Pantry and Corduroy. The surrounding area is also home to several local galleries and retailers, and will soon be welcoming a state-of-the art Giant Food grocer, 1,000-room Marriot Marquis Hotel, and the LivingSocial national headquarters.
WestMill Capital Partners is a leading real estate investment and development firm in Washington, DC. Focused exclusively on urban mixed-use and retail development, WestMill has a strong track record of creating unique, high-quality destinations.View full profile