For Immediate Release – December 31, 2023
Amalfi Capital finishes 2023 strong with 7 investments and 3 completed exits.
Amalfi Capital has exited 3 investments and invested in an additional 7 despite a very challenging year for CRE. “We have an exciting portfolio of well positioned assets that are mostly located in the top 10 MSA’s in the country and are partnered with highly experienced sponsors with many decades of experience. Many of our investments that are development projects should complete construction in 2024 and most of our core holdings continue to perform above original projections despite all the headwinds in the industry. As 2023 comes to an end we are proud and extremely grateful to all our partnerships this past year and for the dedicated hard work of our team members. We are very excited for 2024 and already have investments in the pipeline that should close in the first quarter of the new year”, said Raffaella Schnurr, Managing Partner, Amalfi Capital Partners.
Our most exciting partnership in 2023 was with Foulger-Pratt of Washington, D.C. in a conversion of a vacant office building into a Class A+, 243-unit multifamily high rise one block from the White House. A one-of-a-kind trophy asset, 1425 New York Avenue will be the closest multifamily building to the White House upon completion, with top-of-market amenities and rooftop views of notable landmarks. Located in the heart of Washington D.C.’s most exclusive neighborhood and boasting a Walk Score of 98 and a Transit Score of 100, the Property’s location is perfectly positioned for residents to take advantage of all that the D.C. metro area has to offer.