redIQ Deal Highlight: Nuveen Real Estate Acquires Mallory Square
redIQ Deal Highlight: Nuveen Real Estate Acquires Mallory Square
redIQ would like to congratulate the team at Nuveen Real Estate for finalizing the acquisition of Mallory Square in Rockville, MD for $110 million. The 365-unit apartment building was purchased from the developer, Woodfield Investments, in a deal brokered by JLL Capital Markets. The development of the property was completed in 2016, and financed by Citizens Financial Group.
The DC metro area is a booming rental market with a huge uptick in lease signings and virtual tours with the opening of offices and schools. Other recent transactions in the area include Watergate Pointe, Ravens Crest, and The Glendale Residence Apartments.
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Since 2012, redIQ has led in the multifamily analytics and underwriting software space. Six of the top ten acquisitions teams and eight of the top ten brokerages rely on redIQ daily. Every year, more than 30% of all multifamily transactions pass through the platform. Our platform allows CRE professionals to extract and standardize data from deal financials instantaneously, gain deep insights into every property, and generate a comprehensive underwriting, with our model or their own. Our robust set of features includes floor plan summaries, cash flow analysis, hyperlocal comp sets, easy deal sharing, preset assumptions underwriting templates, and more. redIQ will always provide better insights and faster underwriting. These empower our users to make smarter investment decisions.
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