"i5 Union Market offers residents the ultimate renter experience, while Common’s strong management team and deep knowledge of the D.C. market will elevate the building’s community-oriented approach to the next level." - Raphael Sidelsky, W5 Group
WASHINGTON (PRWEB) April 16, 2021
W5 Group, the single-family investment office of real estate entrepreneur Ralph Winter, is pleased to announce it has appointed leading residential brand Common as the operator of i5 Union Market’s 239 co-living units.
i5 Union Market, the newly constructed flagship residential building located at 320 Florida NE in the heart of Washington, D.C.’s burgeoning Union Market neighborhood, comprises a mix of conventional and co-living residential units that together form a highly amenitized, dynamic environment. Its offerings include an infinity pool with views of the U.S. Capitol, a penthouse lounge including a chef’s kitchen and indoor/outdoor space, grilling stations, a state-of-the-art fitness center, a co-working lounge with private offices, a dog walk area and pet spa, and onsite covered parking and storage.
“We are very excited to welcome Common as i5 Union Market’s co-living operator,” said Raphael Sidelsky, Chief Investment Officer at W5 Group. “i5 Union Market offers residents the ultimate renter experience, while Common’s strong management team and deep knowledge of the D.C. market will elevate the building’s community-oriented approach to the next level. The Union Market neighborhood continues to develop and has quickly become a 24/7 live- work-play environment with popular restaurants and nightlife, brand new office space and immediate access to the Metro. This will be a big year for the submarket, and we couldn’t be happier that i5 will play an integral role in that growth.”
“Common’s co-living expertise and existing robust portfolio within the D.C. market will position i5 Union Market’s community-driven operations to be the premier co-living offering in the United States. It’s an honor for our team to have been chosen as a manager at this property, and we are looking forward to bringing our signature experience to life in this Class-A building,” said Amalia Paliobeis, Senior Managing Director of Real Estate at Common. “We are thrilled to be working with visionary partners at W5 Group and Level 2 Development who share our commitment to providing renters a unique, first-class living experience.”
Co-living rents at i5 Union Market by Common are starting at $1,100 per month and include fully furnished apartments, household supplies, weekly cleanings, community events, discounts to local and national brands, utility-inclusive rent and access to all of the building’s amenities. For more information, visit i5unionmarket.com.
About W5 Group
Established in 2009, W5 Group is the single-family office of prominent global real estate investor and entrepreneur Ralph Winter. W5 Group has investment teams in US and Europe with offices in New York, Miami, and Switzerland. Mr. Winter was a pioneer in student housing and micro apartments in Europe where he amassed a large-scale portfolio of over 40,000 beds. W5 Group seeks long-term value creation and invests across asset classes and capital structures with a focus primarily on innovative residential investments in multifamily, student housing, single-family rentals and micro-apartments. W5 Group has permanent capital and seeks to create enduring value and long-term partnerships with high-quality operating partners. Ralph Winter is also a founder of 777 Capital Partners, an investment boutique for off-market deals in the innovative residential and commercial real estate segments in the DACH region in Europe. Learn more about W5 Group at http://www.w5-group.com.
Common is the leading residential brand and operating platform that designs, leases, and manages multifamily properties that appeal to today's renters. Through smart design and tech-enabled property management, Common delivers exceptional experiences across ten cities and over 5,000 members in coliving, microunit, and traditional apartments. We are the preferred choice for both residents looking for a stress-free and all-inclusive living environment from a trusted brand, and for real estate owners seeking reliable, above-market returns. The Common platform also includes workforce housing management brand Noah and family-first urban designer and operator Kin. With over 20,000 units signed and under development and over $110 million in venture capital investment, Common is expanding into 22 cities across the world. To work with us, visit our partners page or follow us on Instagram at @common.living.