Rithm Capital Corp., American Real Estate Partners, And GreenBarn Investment Group Acquire And Launch CityHouse Ashburn Station, A Luxury 200-Unit Subdivision For $120M
Portfolio Pulse from Happy Mohamed
Rithm Capital Corp. (NYSE:RITM), American Real Estate Partners (AREP), and GreenBarn Investment Group have partnered to acquire a luxury 200-unit subdivision in Ashburn, Virginia, for $120 million. The community, named CityHouse Ashburn Station, is aimed at renters seeking a single-family home lifestyle. Rithm is providing equity capital and debt financing through its subsidiary Genesis. The first phase of the development will be available to rent in mid-August, with the remaining phases delivered over the next 15 months.
August 21, 2023 | 1:03 pm
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Rithm Capital Corp. is involved in a significant real estate acquisition and development project, providing both equity capital and debt financing. This could potentially increase the company's assets and revenues in the long term.
Rithm's involvement in the acquisition and development of the CityHouse Ashburn Station project is a significant move that could potentially increase the company's assets and revenues. The company's role in providing both equity capital and debt financing indicates a substantial investment and commitment to the project. If the project is successful, it could lead to increased rental income and asset value for Rithm.
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RELEVANCE 100