West Falls developer Hoffman announces new investment vehicle

Wednesday August 2 – Hoffman and Associates, a leading developer of innovative mixed-use and residential communities across the Mid-Atlantic and Southeast and the key developer of the West Falls 10-acre mixed-use project in Falls Church, announced that it had closed its first real estate private equity fund. The Hoffman and Associates General Partner Fund, a $65 million investment vehicle, will primarily target development projects, including start-up initiatives currently being led by the company.

With 30 years of experience and 6.5 million square feet in development and construction, Hoffman and Associates has established itself as a steady growth with a variety of projects that shape downtown’s cityscapes and neighborhoods. Atlantic and Southeast. The fund gives the company an edge in expanding its growing pipeline, by acting quickly on future opportunities.

“Hoffman and Associates is expanding our portfolio,” said Monty Hoffman, Founder and President of Hoffman and Associates, “As our $3.6 billion Wharf project nears completion in Washington and our presence in Northern Virginia and in 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 foresees many more opportunities.The Hoffman & Associates General Partner Fund will be instrumental in continuing the exciting future of our business. Hoffman described his current Falls Church project as “a large, multi-phase, mixed-use, nearly 10-acre, transit-focused, community-expanding project. vibrant Falls Church, Va. West Falls will serve as the gateway to the town of Falls Church and a gathering place for all with apartments, condominiums, residential seniors homes, retail, hotel and medical office building, as well as 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 largest project in Falls Church history, West Falls is poised to be Hoffman & Associates’ next biggest venture after The Wharf.

“We are honored to be able to announce the Hoffman and Associates General Partner Fund, as it continues to show our investors’ confidence in our team and our innovative, community-based approach to development,” said Jon McAvoy, chief investment officer at Hoffman and Associates. . Officer. “The Fund builds on our three decades of success, delivering strong returns to our investors and partners, as well as community value in the neighborhoods we serve.”

This announcement follows the steady growth of Hoffman and Associates, anchored by the completion of The Wharf later this year, as well as the company’s continued expansion into the Mid-Atlantic and Southeast , with a variety of projects ranging from large-scale neighborhoods to mixed neighborhoods. -use condominium and apartment offerings, highlighting the company’s innovative and unwavering commitment to sustainable and community development.

Over the next two years, the fund intends to deploy its capital base in projects. In addition to West Falls, it includes 4600 Fairfax Drive, a vibrant 530,000 square foot multi-family development in Ballston, Va. that will feature more than 500 residences, including apartments and townhouse-style residences in two buildings with 475 apartment residences as well as 29 townhouse-style multi-family 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.

Additionally, there is a ‘RUS Bus’ project, a 500,000 square foot mixed-use, transit-focused development in Raleigh, NC, integrating Raleigh’s Union Station with innovative transit upgrades. , a new bus facility, spaces suitable for bicycles and pedestrians. and multi-family residential with affordable housing, retail and hospitality. The approximately $275 million project, one of the largest developments currently underway in Raleigh, will see the construction of two high-rise buildings up to 40 stories high, with 18,000 square feet of retail space and more than 400 apartments.

There’s also Seaboard Station: This vibrant development, scheduled to deliver its first phase this fall, will bring a unique blend of vibrant residential, commercial and community spaces to Seaboard Station’s historic location in downtown Raleigh. When complete, Seaboard Station will include nearly 600 residences across three buildings and more than 130,000 square feet of retail, dining and entertainment concepts, as well as underground parking and a hotel.

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