NEW YORK–(BUSINESS WIRE)–Capital Security Advisors, LLC, an investment management and advisory firm specializing in infrastructure and real estate, announced today that its joint venture with Tokyu Land US Corporation acquired Madison House, a newly constructed luxury residential development in Washington D.C.’s exclusive Dupont Circle neighborhood.
The Capital Security Advisors and Tokyu Land US Corporation joint venture was formed to invest in high- quality multifamily properties and to provide co-investment opportunities for institutional and private investors. Tokyu Land US Corporation is the United States subsidiary of Tokyu Land Corporation, a core company of Tokyo, Japan-based Tokyu Fudosan Holdings Corp., a multibillion-dollar real estate corporation listed on the Tokyo Stock Exchange (3289.T). “Madison House is perfectly aligned with our focus on high-quality multifamily properties in urban infill markets with strong demographics, population growth and high barriers to new development. We are honored to be 50/50 partners with Tokyu Land US Corporation in acquiring this premier asset,” said Dennis Irvin, a Principal of Capital Security Advisors and the founder of its Real Estate Group. “We expect several additional joint venture investments together in the near future.”
Madison House is a seven-story, 38,141 square foot, 51-unit development located at 1772 Church St. NW in Washington D.C.’s Dupont Circle neighborhood, where opportunities for new development are extremely limited. It is only the second new multifamily asset delivered in the neighborhood since 2015, and only the fifth delivered in the past 50 years. “This unique, high-quality property is in one of the most desirable residential neighborhoods of Washington, D.C.,” said Dennis Irvin. “Madison House represents our commitment to identifying and acquiring premium investment opportunities for our investors.”