ARCTRUST Fully Subscribes $7M Offering to Revitalize Pair of D.C. Properties

ARCTRUST Private Capital, the capital markets division of the ARCTRUST Group of Companies, announced that Project DC DuPont Circle LLC – a Regulation D private placement offering made available to accredited investors under Rule 506(c) – is fully subscribed.

The limited liability company offering launched in August 2024 and raised $7 million in investor equity.

The company intends to use the proceeds to redevelop, lease up and operate two previously acquired opportunistic multifamily properties in the Washington, D.C. area. The fund is a joint venture with American Housing, a real estate firm focused on workforce and other affordable housing investments and is financed in part by Amazon Housing Equity Fund.

“We are extremely pleased by the overwhelming investor confidence in Project DC DuPont Circle, as demonstrated by the full subscription of the fund,” said Chris Wadelin, chief executive officer of ARCTRUST Private Capital.

The fund includes two multifamily properties located in the Dupont Circle section of Washington, D.C.: The Park Meridian and The Ravenel. The fund expects to completely renovate and modernize both buildings.

“This successful capital raise validates our investment strategy and underscores the compelling opportunity we have provided in the Washington, D.C., multifamily market. We look forward to executing our redevelopment plan, delivering both attractive returns for our investors and much-needed modern residences to this vibrant community,” added Wadelin.

Additionally, the fund plans to utilize its unique experience with the Tenant Opportunity to Purchase Act, or TOPA, and the American Housing partnership with Amazon Housing Equity Fund to provide modern and affordable workforce housing to an area that has experienced high population growth and growing employment in recent years.

ARCTRUST Private Capital is an affiliate of the ARCTRUST Group of Companies, a vertically integrated real estate organization that over the past 40 years has been responsible for more than 500 transactions with an aggregate value in excess of $5 billion. ARCTRUST Private Capital focuses on delivering a diverse platform of investment solutions including real estate investment trusts, Regulation D offerings, Delaware statutory trusts and preferred equity and debt products, while also providing investor access to private sidecar and property-specific investments in joint ventures and co-sponsored offerings.

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