Since 1965, MidCity has been a pioneer, developing multifamily communities that meet the diverse needs of residents and deliver long-term value to our partners.
Today, we are bringing new energy and modern leadership to the development of residential and mixed-use properties in Washington, DC and across the portfolio, while staying rooted in collaborative partnerships, careful stewardship and vigilant oversight.
MidCity’s portfolio of 9,000 multifamily units includes properties with prime access to Washington, DC Metrorail stations. The redevelopment of these assets will provide a 20-year pipeline for urban mixed-use and mixed-income communities.
With several upcoming projects – including RIA, a 20-acre mixed-use destination slated to break ground in 2019 – we are ushering in a new era of MidCity development.
MidCity invests in a variety of multifamily communities and focuses on providing investors with appropriate risk-adjusted returns. The Investment Services team coordinates the due diligence on every transaction, determines the optimal capital structure, and negotiates best available terms and conditions with our lender partners.
Additionally, the team ensures that the business plan is ready to be executed by our Asset Management group once the transaction is completed.
MidCity’s acquisitions include conventional apartment properties and general partner and limited partner interests in multifamily partnerships. The Investment Services team has redeveloped tax credit properties and repositioned other properties through the deployment of capital and/or conversion to mixed-income housing.
ASSET MANAGEMENT & ACCOUNTING
MidCity has a diverse team of asset management professionals who ensure the operational objectives of each asset are maximized with a strong emphasis on the long-term. These functions include cash flow optimization, value enhancement, refinancing, asset repositioning and conversion, construction management, property tax analysis, acquisition due diligence and property disposition. With experience in both conventional and assisted housing, this group has particular expertise in understanding how to create mixed-use, mixed-income communities that create vibrant housing communities.
MidCity owns 5,000 multifamily units, primarily in the Washington, DC Metropolitan Area. Its affiliated management companies, Edgewood Management Corporation and Vantage Management, Inc., manage approximately 22,000 apartment units, making them among the 50 largest managers of multifamily real estate in the United States, serving a wide range of incomes. Edgewood is recognized for its state-of-the-art reporting and accounting management systems, as well as its team of seasoned management professionals who are experts in marketing, compliance, and other property-specific considerations. Vantage manages market-rate apartment properties in the Washington region.