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Clear Investment Group buys 300-unit Woodland Estates in Southeast DC
The acquisition, completed via a receivership auction, expands the firm’s Washington metro portfolio to nearly 1,000 apartment units and will fund major capital improvements to modernize the community.
Clear Investment Group, a Chicago-based real estate investment firm, has acquired Woodland Estates, a 300-unit multifamily community in Southeast Washington, D.C., according to ConnectCRE.
ConnectCRE said the purchase is the firm’s second investment in the Washington metropolitan area, taking its regional portfolio to nearly 1,000 apartment units. The property was acquired through a receivership auction, and the deal is described as a value-add opportunity for Clear Opportunities Fund II.
The community is located in the Anacostia neighborhood, about five miles from downtown Washington, D.C. ConnectCRE reported that Woodland Estates will undergo significant capital improvements aimed at modernizing the property, with CEO Amy Rubenstein citing workforce housing demand and resilient multifamily fundamentals in the D.C. market.