The General Partner Fund Launches with $65 Million As Hoffman & Associates Continues to Grow Its Real Estate Portfolio Across the Mid-Atlantic and Southeast
WASHINGTON, Aug. 8, 2022 /PRNewswire/ — Today, Hoffman & Associates, a leading developer of innovative mixed-use and residential communities across the Mid-Atlantic and Southeast, including the $3.6 billion Washington, D.C. waterfront neighborhood The Wharf, announced that it closed on its first real estate private equity fund. The Hoffman & Associates General Partner Fund, a $65 million investment vehicle, will predominantly target development projects including early-stage initiatives currently led by the company.
With 30 years of experience and 6.5 million square feet in development and construction, Hoffman & Associates is steadily growing with a variety of projects that are shaping cityscapes and neighborhoods across the Mid-Atlantic and Southeast. The fund gives the company an advantage in expanding its growing pipeline, acting quickly on future opportunities.
“Hoffman & Associates is expanding our portfolio. As The Wharf comes to completion, and our presence in Northern Virginia and North Carolina continues to grow with market demand and projects such as West Falls, Waterfront Station II, 4600 Fairfax Drive, Seaboard Station and RUS Bus, our company anticipates many more opportunities. The Hoffman & Associates General Partner Fund will be instrumental in continuing our company’s exciting future,” said Monty Hoffman, Founder and Chairman of Hoffman & Associates.
“We are honored to be able to announce The Hoffman & Associates General Partner Fund as it continues to showcase our investors’ confidence in our team and our innovative, community-minded approach to development,” said Jon McAvoy, Hoffman & Associates’ Chief Investment Officer. “The Fund builds on our three decades of success, delivering strong returns for our investors and partners, as well as community value across the neighborhoods we serve.”
This announcement follows the consistent growth of Hoffman & Associates, anchored by the completion of The Wharf later this year, as well as the company’s continuous expansion across the Mid-Atlantic and Southeast, with a variety of projects ranging from large-scale neighborhoods to mixed-use condominium and apartment offerings, all underscoring the company’s innovative and unwavering commitment to sustainable, community-minded development.
Over the next two years, the fund intends to deploy its capital base in projects including:
- West Falls: A nearly 10-acre expansive, multiphase mixed-use, transit-oriented project expanding the vibrant community in Falls Church, Virginia. West Falls will serve as a gateway to the city of Falls Church and a gathering place for all with apartments, condominiums, senior living, retail, hotel and a medical office building, along with an outdoor community gathering space in the center of the neighborhood that will provide over 18,000 square feet of open space for community use. The biggest project in Falls Church history, West Falls is poised to be Hoffman & Associates’ next largest endeavor following The Wharf.
- 4600 Fairfax Drive: A dynamic, 530,000 square-foot multifamily development in Ballston, Virginia that will feature more than 500 residences including apartments and townhome-style residences in two buildings with 475 apartment residences as well as 29 townhome-style multifamily units. The project is designed to not only achieve LEED Gold certification, but also to follow Arlington County’s industry leading 2020 Green Building Program.
- RUS Bus: A 500,000 square-foot transit-oriented mixed-use development in Raleigh, NC, integrating the Raleigh Union Station with innovative transit improvements, a new bus facility, bike and pedestrian-friendly spaces and multifamily residential with affordable housing, retail and hospitality. The approximately $275 million project, one of the biggest developments currently underway in Raleigh, features plans to build two high-rise buildings up to 40 stories tall, with 18,000 square feet of retail space and over 400 apartments.
- Seaboard Station: This dynamic development that is set to deliver its first phase this fall, will bring a unique mix of residential, retail and vibrant community spaces to the historic location of Seaboard Station in downtown Raleigh, NC. When complete, Seaboard Station will feature nearly 600 residences in three buildings and more than 130,000 square feet of street-level retail, restaurants and entertainment concepts, as well as underground parking and a hotel.
For more information about Hoffman & Associates, please visit www.hoffman-dev.com.
Hoffman & Associates is a leader in both residential and mixed-use development in multiple markets across the Mid-Atlantic and Southeast regions. Since its founding in 1993, Hoffman & Associates has developed over 75 mixed-use, residential, office and retail projects with an unwavering commitment to sustainable and innovative development that puts community first. Hoffman & Associates is an industry leader in creating inclusive urban communities that bring people together and enhance the way we socialize, work and live together. The company has large-scale developments throughout the Washington, D.C. metropolitan area, Raleigh, North Carolina, and Falls Church, Virginia, with a portfolio totaling $6 billion. Hoffman & Associates is also the managing member of Hoffman-Madison Waterfront, a joint venture with Madison Marquette, which is developing The Wharf, a $3.6 billion, 3.3 million square-foot neighborhood along Washington, D.C.’s waterfront. Other developments include Seaboard Station, West Falls, Waterfront Station II, Parcel B at Audi Field, 4600 Fairfax Drive, RUS Bus, Amaris, The Banks, The Bower, 525 Water, VIO, The Channel and Incanto. Hoffman & Associates has offices in Washington, D.C. and Raleigh, North Carolina. For more information please visit: www.hoffman-dev.com.
Hoffman & Associates
760 Maine Avenue SW
Washington, D.C. 20024
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