GREENBELT, Md.--(BUSINESS WIRE)--The NRP Group, a vertically integrated, best-in-class developer, builder, and manager of multifamily housing, Willton Investment Management, a real estate-focused family office investment company, and Greenbelt Mayor Emmett V. Jordan, today celebrated the grand opening of Motiva, a transit-oriented, amenity-rich community of 354 upscale apartment homes in the City of Greenbelt, Maryland.
“Willton Investment Management, the City of Greenbelt and the Prince George’s County Park and Planning Staff and Planning Board have been amazing partners,” said Joe Torg, Senior Vice President of Development at The NRP Group. “They were deeply invested in bringing this project to fruition and making sure the delivery was successful. The meaningful municipal input from citizens, locals, and the city, helped create a vital partnership. This collaboration is truly what brought Motiva to life.”
Motiva marks the third successful lease-up in the Washington D.C. metro area for The NRP Group’s Mid-Atlantic office and the second Prince George's County project for The NRP Group and Willton Investment Management. The community is already over 80 percent leased and property managers are actively fielding applications to fill the remaining residences.
Located 14 miles northeast of Washington D.C., the City of Greenbelt is increasingly attractive to people who work at the nearby University of Maryland, the adjacent Capital Office Park, the adjacent U.S. District Court, and the employment cores in Silver Spring and New Carrollton. Motiva residents benefit from the community’s close proximity to Greenbelt Metro Station and the new Purple Line, which connects Prince George’s County with Montgomery County and Bethesda. Additionally, Greenbelt Metro is located directly adjacent to the Capital Beltway. Residents can also take advantage of a bike share program for convenient transportation.
“Motiva experienced rapid lease-up due to the demand for high-quality, walkable, and transit-oriented communities in the Washington D.C. metropolitan area,” said Josh Wooldridge, Senior Vice President of Development at The NRP Group. “The upscale amenities coupled with easy commuting options makes Motiva ideal for working professionals.”
Designed to meet the local want for upscale rental options, Motiva features four stories of high-end studio, one-, two-, and three-bedroom, pet-friendly apartment homes, with amenities that include a resort-style pool, two state-of-the-art fitness centers, business center, dog park and pet spa, community clubhouse, and stand-alone garage parking.
“Thinking back to when the City of Greenbelt was first planned, the concept was all focused on placemaking and the idea of having people living within walking proximity to access where they work, nearby recreational amenities, and schools. This is something that this apartment community really mirrors,” said Emmett V. Jordan, Mayor of Greenbelt. “The NRP Group has the same legacy of placemaking and building community, and the spaces and amenities here embody the same values that were important to the founders of the city.”
Eagle Bank provided construction financing for Motiva.
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing. Since its founding in 1994, NRP has delivered more than 35,000 apartment homes, and currently manages over 20,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market-rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.
About Willton Investment Management
Willton Investment Management is a New York City based real estate office focused on multifamily investment across the United States. The firm focuses on joint ventures with high caliber sponsors who have a proven track record for success. For media inquiries or to learn more about Willton Investment Group, please visit www.willtongroup.com.