Preston Hollow Community Capital provided the financing for a BTR project in a master-planned development.
The luxury property will be the firm’s second within the District and is 1 mile from the greater metro area.
The companies will invest $100 million in equity to build communities in select U.S. markets.
Featuring four towers, the Fort Lauderdale property will include condos and rental units.
The project is part of the firm’s master-planned development, the Downtown Columbia Plan.
Construction will start this month, with move-ins scheduled for late 2024.
First move-ins are expected in late 2024.
The developer will start construction on the 174-unit affordable housing community in Corvallis, Ore.
The project is located adjacent to the city’s largest stadium.
Northwestern Mutual provided the construction and joint venture equity financing for the mixed-income project.