BERKSHIRE GROUP PURCHASES BERKSHIRE15 IN WASHINGTON, D.C.
96-unit high rise located in U Street corridor
BOSTON, MA — September 27, 2016 — Berkshire Group announced the purchase of Berkshire15 in Washington, D.C., from Bozzuto Homes, Inc. The 96-unit high-rise is located in the historic U Street corridor, providing convenient access to public transit on the metro, downtown Washington, D.C. businesses, entertainment venues, a dedicated bike lane and a popular neighborhood park.
“Washington, D.C. is a gateway market, and we believe it will continue to drive strong population and job growth in the future given the metro area’s global importance, noted Jack Dent, Managing Director, Portfolio Manager, Berkshire Group. “Berkshire15 fits well into our strategy of building a first class core apartment portfolio in markets expected to outperform national apartment fundamentals over the long term.”
Berkshire15 apartments feature high-end finishes such as European-style cabinets, quartz countertops, and wood flooring. Community features include a ground-level patio, rooftop deck, a parking garage, extra storage units and bicycle storage.
About Berkshire Group
Berkshire Group is a real estate investment management company primarily known for its multifamily investment and operational experience. In addition to deploying capital through equity, debt and development in the multifamily arena, Berkshire invests in opportunistic ventures in other real estate sectors through its Venture Investments group. Over more than four decades, Berkshire’s team of industry leaders has gained a reputation for being able to identify opportunities and effectively manage through various economic environments, establishing a long-term track record of solid performance based on thoughtful, leading edge strategies, and operational experience. The Company has experience in disciplines including acquisitions, portfolio and property management, debt, development and redevelopment. Berkshire, a registered investment advisor, is headquartered in Boston and has offices in Atlanta, New York, Baltimore, Dallas, Houston and San Francisco. As of June 30, 2016, Berkshire Group had approximately $7.2 billion in real estate assets under management. For more information on Berkshire, please visit www.berkshire-group.com.