Rithm Capital Corp., American Real Estate Partners, and GreenBarn Investment Group Acquire and Launch CityHouse Ashburn Station, a Luxury 200-Unit Subdivision for $120M
Summary
Katz adds, "Were excited to partner with Rithm, Genesis, and GreenBarn, and thankful for the support of our investors who trust in our oversight of their capital and our ability to lead and invest through a constantly evolving market to produce asymmetrical risk-adjusted returns." This new 200-unit BTR subdivision provides an urban experience in a suburban node, offering residents an ideal location close to the Northern Virginia tech, innovation, and office hubs with easy metro access to the entire DMV area via the Silver Line. Unit sizes will average 2,000 SF and offer attached private garages, large island kitchens, full-size side-by-side washer dryers, seamless connectivity and smart home functionality, with resident amenities including sports courts, communal outdoor green spaces, pet-friendly facilities, and indoor/outdoor entertainment areas. Rithm Capital is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes and is headquartered in New York City. Headquartered in the Greater Washington metropolitan area, AREP is an institutional fund manager and operating partner focused on data center, residential, industrial, and office assets on both a development and repositioning basis in key markets along the East Coast.