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JV partners target $175M of Washington, DC, assets through urban retail venture

Real estate investment advisory company NW1 Partners announced the closing of its NW1 Washington DC Urban Retail Venture, which aims to create a portfolio of urban retail assets worth $175 million in aggregate.

The venture, established in partnership with urban retail specialist Martin-Diamond Properties, will invest in properties located in the "millennial-influenced" submarkets of Washington, D.C., NW1 Partners said in a release.

Since the inception of NW1 Washington, the duo has committed about one-third of its capital into assets comprising 70,230 square feet.