Rithm Capital, AREP, GreenBarn Acquire CityHouse Ashburn Station for $120M
Rithm Capital Corp, American Real Estate Partners (AREP), and GreenBarn Investment Group have partnered to acquire a luxury 200-unit townhome subdivision in Ashburn, Virginia, from Dream Finders Homes for $120 million.
The community, now known as CityHouse Ashburn Station, is aimed at renters-by-choice seeking a single-family home lifestyle as an alternative to the for-sale market. AREP and GreenBarn are co-general partners, while Rithm is providing equity capital and debt financing through its subsidiary Genesis.
Residential amenities including sports courts, communal outdoor green spaces, pet-friendly facilities, and indoor/outdoor entertainment areas.catering to young professionals and families. The first phase will be available for rent in mid-August.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.