Modern Industrial Columbia Heights Condominiums

14.5%
gross ann. return*
0 mo.
term remaining
D
Investment Complete
Current Ann. Return 7.0%
Accrued Ann. Return 7.5%
Gross Ann. Return* 14.5%

Investment Details

Current Ann. Return 7.0%
Accrued Ann. Return + 7.5%
Gross Ann. Return* 14.5%
Term Remaining 0 of 24 mo.
Min. Investment $5,000
Investment Size $500,000
Underlying Security Preferred Equity

Investment Summary

This is an opportunity to invest in a series of Notes tied to the performance of Brook Rose Development’s new 15-unit luxury condominium project in the Columbia Heights neighborhood of Washington, DC.

Key Deal Points

Personal Guarantee

Brook Rose, President of Brook Rose Development, has provided a personal guarantee on the corresponding Fundrise investment.

Strong Housing Market

The Columbia Heights neighborhood has seen significant growth and revitalization over the last decade. Today, the for-sale market is strong with an average sale price of $530/SF and average days on market of 13 days.

Unique Design

Brook Rose Development plans to utilize high-end design elements such as reclaimed wood, open shelving, barn doors and exposed beams to create a unique final product that differentiates itself from the rest of the market.

By-Right Development

The project plans have been approved by the DC Historic Preservation Review Board. Building permits have been submitted to the city.

Projected Return Calculator

Principal
$5,000
Gross Annual Return* 14.5%
Term 24 mo.
Total Return*

Fundrise Rating

The Fundrise Rating is a letter rating ranging from A to E that provides investors with the ability to easily compare investments across the Fundrise platform. The Fundrise rating measures the relative risk-adjusted return of an investment. Learn more
D3
A
1
2
3
B
1
2
3
C
1
2
3
D
1
2
3
E
1
2
3
Category Assessment Points
Capital Senior to Fundrise 70-79% 4
Capital Junior to Fundrise 10-19% 4
Location Primary 1
Occupancy Vacant 3
Development Phase Ground-up 3
Sponsor’s Track Record Less than $50 million 3
Personal Guaranty Yes -1
Overall 17 D3

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.

Risk-Adjusted Return

Capital Structure

Type Source % of Total Amount
Equity Sponsor and LPs 10.6% $746,937
Preferred Equity Fundrise Investment 7.1% $500,000
Senior Debt 82.3% $5,800,000
Total 100.0% $7,046,937

Property Summary

The subject site is located at 770 Girard Street NW in the Columbia Heights neighborhood of Washington, DC. The project site is 14,250 square feet (0.327 acres) and the block is bound to the west by Sherman Avenue NW and to the east by Georgia Avenue NW. The existing structure is expected to be converted to two large condominium units.

Address 770 Girard St. NW
City & State Washington, DC
Neighborhood Columbia Heights
Product Type Residential / Condominiums
Project Phase Ground-Up / Construction

Market Summary

Columbia Heights is a rapidly growing neighborhood within the popular 14th street corridor of Washington, DC. Bordered by the neighborhoods of U Street, Petworth and Adams Morgan, the submarket has been growing steadily since the opening of a new metro station in 1999. The largest project in the area, DC USA, includes 546,000 square feet of retail anchored by Target and Best Buy. Three blocks to the east of DC USA, the 11st NW corridor, dubbed the "Hip Strip" by the New York Times, hosts a number of local bars and restaurants catering to the young and hip residents of the neighborhood.

About the Sponsor

Brook Rose

Principal

It was in 2002 that Brook Rose Development began designing and building luxury residential properties in Washington DC. The company's goal was to intermix quality construction with inspiring, timeless design. "We always believed that if you are committing time, effort and finances to build something, put in the extra work and make it special."

View full profile

Fee Schedule

Gross ann. return* 14.5%
Servicing and administration fee -0.3%
Net ann. return to investors 14.2%

Other Past Investments

Atlanta Condo Pre-Development Loan

Atlanta, GA
B
Gross Ann. Return* 14.0%
Term Remaining 0 mo.
Underlying Security Senior Debt

Brooklyn 3-Unit Apartment Repositioning - Senior Loan

Brooklyn, NY
B
Gross Ann. Return* 11.0%
Term Remaining 0 mo.
Underlying Security Senior Debt