We are honored to partner once again with NRP on this unique residential development project. We are also enormously thankful to our investors, who understand this tremendous opportunity and who, notwithstanding the existing challenges, have supported our decision to move forward with this project.
MIAMI (PRWEB) May 19, 2020
South Florida real estate firm PointOne Holdings has partnered with the NRP Group to develop a 390-unit luxury Class-A multifamily community in the growing Metro Washington DC submarket of Tysons Corner, Virginia.
Highland District will be a 5-story midrise community featuring a spacious resident clubroom with gaming rooms, working areas and a doorman, infinity edge pool, yoga lawns and other outdoor activity areas, outdoor grilling areas, package concierge service warehouse-style fitness center with separate spin and cardio studios. Unit interiors will feature high-end, condo-quality finishes.
Tysons Corner is one of the fastest growing Live + Work + Play markets in the country. The area is experiencing an economic boom fueled by employment growth, significant development as well as the recently opened Silver Line DC Metro extension.
Highland District will enjoy excellent walkability to over 20,000 jobs at the Capital One Headquarters, Northrop-Grumman and MITRE. Additionally, Amazon HQ2, Facebook, Microsoft, KPMG, and Google have also recently leased office space in Northern Virginia. Residents will be able to easily walk to the Washington DC Silver Line Metro Station and to over 2.1 million square feet of luxury amenities including The Tysons Galleria, Tysons Corner Center, restaurants, a new amphitheater and an 80,000 square foot urban Wegmans supermarket.
“We are honored to partner once again with NRP on this unique residential development project,” said Leo Peicher, PointOne Holdings’ managing partner. “We are also enormously thankful to our investors, who understand this tremendous opportunity and who, notwithstanding the existing challenges, have supported our decision to move forward with this project, knowing that when it is delivered, it will be exceptionally well-positioned.”
“We are excited to be breaking ground on our latest development, Highland District Apartments in Tysons Corner, Virginia,” said Ben Colonomos, PointOne Holdings’ managing partner. “We believe that our proactive and thoughtful approach to this project will help us overcome all near-term challenges, and allow us to deliver a premier property in a solid market at a time in which there will be a limited supply of similar housing options.”
“We are thrilled to begin construction on a second development with PointOne as our capital partner,” says George Currall, Principal and Managing Director of Capital Markets for the developer, contractor and management company - The NRP Group. “Between Austin and Washington, DC, they have selected two of the strongest markets in the nation, and specific sites within these markets that have a great deal of potential upside. PointOne devotes a lot of attention to due diligence and is quite adept at recognizing low-basis, infill projects in strong metros where the inputs to value creation are highly favorable. PointOne is a Class A organization of consummate professionals and we hope to build many more phenomenal assets with them in the future.”
About PointOne Holdings
PointOne Holdings is a real estate investment firm headquartered in South Florida and Atlanta with properties located throughout the Southeastern United States and Texas. The firm owns and manages a diversified portfolio of residential and commercial assets valued in excess of $730 million. PointOne Holdings’ principals are seasoned professionals with over 40 years of combined experience who have collectively conducted over $2 billion in real estate transactions. Learn more by visiting http://www.pointoneholdings.com.
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing. Since its founding in 1994, NRP has developed more than 43,000 apartment homes, and currently manages over 23,000 residential units. NRP is a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive. For additional information, visit http://www.nrpgroup.com.