Global Asset Management signs LOI to recapitalize 11-property Washington, D.C., housing portfolio
GAMG•Global Asset Management Group signed a largely nonbinding letter of intent with Madison Investments to recapitalize an 11-property affordable housing portfolio in Washington, D.C., preliminarily valued at approximately $100 million. No transaction has closed; definitive documentation and the broader process are targeted within 45 to 60 days, subject to financing and approvals.
1. Proposed recapitalization
Global Asset Management Group signed a largely nonbinding letter of intent with Madison Investments to recapitalize an 11-property Section 8 affordable housing portfolio in Washington, D.C. Management preliminarily values the portfolio at approximately $100 million, subject to due diligence and property-level valuation; the proposed strategy focuses on rehabilitation, higher occupancy and long-term income generation.
2. Next steps
Definitive documentation and the broader transaction process are targeted within 45 to 60 days, subject to financing and applicable approvals. No portfolio acquisition or recapitalization has closed.
