Kennedy Wilson Provides $175 Million Construction Loan For 434-Unit Development In Washington D.C

The asset involved in this transaction is a development site located at 1999 I Street Northwest in Washington, DC. The property encompasses 434 units, designated for multifamily development, and has been financed through a construction loan of $175,000,000. Kennedy Wilson served as the lender for this senior construction mortgage that was closed on September 25, 2026.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $175,000,000
• Address: 1999 I Street Northwest
• Market: Washington, DC
• Units: 434
• Lender: Kennedy Wilson
• Landlord Representatives: Doug Firstenberg - Stonebridge, Inc., Adam Bernstein - The Bernstein Companies & Criterion Real Estate Capital
• Loan Type: Construction

This transaction involved key individuals and companies, notably Doug Firstenberg from Stonebridge, Inc. and Adam Bernstein representing both The Bernstein Companies and Criterion Real Estate Capital, who acted as the landlord's representatives throughout the deal. Their expertise contributed to the successful closure of the loan for this significant multifamily project in a prime location.