Northridge and Fortis Cos. close financing for 42-unit Pullman Place

Washington, DC Northridge Capital, LLC, an independent real estate asset management firm based in Washington, DC, revealed that a joint venture with Washington, DC-based, The Fortis Companies, closed on debt and equity financing for Pullman Place, a 42-unit luxury condominium project in the NoMa/H St. submarket. Pullman Place, a six-story building located at 911 2nd St. NE, will feature studio, one bedroom and two bedroom floor plans. The moniker of the property is for George Pullman, an American engineer who designed and manufactured the Pullman sleeping car. “Pullman Place is ideally situated, within two blocks of two Metrorail stations (Union Station and NoMa-Galludet), three blocks to the H Street Corridor, one of the most exciting development neighborhoods in Washington,  and a five-minute walk to Washington’s version of NYC’s Meatpacking District, in Union Market,” said David Jackson, president of Northridge Capital. “The Property fits with our investment thesis that well-located, urban infill projects near major employment centers and transportation nodes is where young, educated Millennials want to live.” Unit finishes and amenities at Pullman Place will include: gourmet kitchens featuring white lacquered cabinet finishes, stainless steel appliances, Silestone countertops, contemporary ceramic tile backsplashes and Grohe plumbing fixtures and high-end bathroom finishes.  Common area amenities will include a rooftop deck with outdoor lounge and BBQ area, secure bicycle storage, landscaped patio area at the front of building and reserved parking for 14 vehicles. Eagle Bank is providing the construction financing, Eichberg Construction is the General Contractor and R2L Architects is the architect of record. Pullman Place is already zoned and construction will begin immediately, with delivery expected in the Fall 2016.