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Related Capital Finances Rehab of Livingstone Manor

WASHINGTON, DC-This private financier of affordable housing has put $11.24 million in equity to fund the rehabilitation of Livingstone Manor, a 392-unit apartment community in the southeast section of the city.

By Marlon Millner | Updated on October 19, 2001

WASHINGTON, DC-Livingstone Manor, a 392-unit apartment community in Southeast D.C. will be rehabilitated through an equity investment from Related Capital of $11.24 million. William C. Smith & Co. will redevelop Livingstone Manor, located at 4419 Third Street SE, and it is slated for completion in December 2002. The rehabilitation project will include restoring building facades, improving mechanical systems, and enhancing security features and landscaping throughout the site.

Related Capital focuses on affordable housing. The company has financed the construction and rehabilitation of 700 properties, with over 78,000 units in 44 states and Puerto Rico. The company said it is the third-largest owner of multifamily housing in the U.S. with a portfolio of over 1,200 properties, valued at about $11 billion.

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