Glover Park Apts | 2200 40th Pl NW (Washington, DC)

Glover Park Apartments was the Obsidian Catalyst Fund’s second investment. The asset is located in NW DC in a well- amenitized neighborhood near the United States Naval Observatory. The property currently has 16 units and will be redeveloped to add 13 units bringing the total size to 29 units. The investment will create additional much-needed workforce housing for families with all units being converted to 3-beds or 4-beds.
The GP, District Line Development (DLD), is a vertically integrated sponsor with an established track record of executing projects throughout DC. DLD’s in-house construction and property management teams will manage all aspects of the property’s business plan. DLD was founded in 2019, and manages over 700 units.