Capital City Real Estate

What Capital City Real Estate does

Capital City Real Estate is a privately held, integrated real estate development firm founded in 2006 and headquartered in Washington, DC, with a regional office in Atlanta, GA. The company manages the full development lifecycle — site acquisition, entitlement, design, construction management, sales, marketing, and investment — across the Washington DC metro area, Atlanta GA, Charlotte NC, Richmond VA, and Fairfax VA. Since inception, Capital City has executed more than 60 projects with a cumulative development value of $800 million, spanning product types from 7-unit boutique condominium conversions to 350-unit Class A multifamily developments.

The portfolio is concentrated in mid- to high-density urban residential and mixed-use product. Flagship assets include Peninsula 88, a 110-unit waterfront condominium at Buzzard Point in Southwest DC with units priced $500K–$1.5M; Loria Ansley, a 350-unit luxury multifamily project in Midtown Atlanta delivered through a joint venture with Atlantic Realty Partners, FIDES Development, and Mitsui Fudosan America; The Mill, a 281-unit transit-oriented multifamily project in Charlotte NC co-developed with Pennington Real Estate Partners and financed through a $48 million syndicated construction note; and N29 Apartments, a 260-unit mixed-use project approved by Fairfax City Council in 2024. The firm also operates a recurring rental portfolio including The Indie (91 units, Atlanta), Rialto (74 units, DC), and Commodore (Richmond).

Revenue is generated through three streams: one-time sale of developed condominium units, recurring rental income from owned multifamily communities, and equity participation in joint-venture developments with institutional and private capital partners. Project financing is sourced through construction loans and co-investment from partners such as Pennington Real Estate Partners, Mitsui Fudosan America, and Concord Summit Capital. The firm is led by Founding Principal & CEO Scott Zimmerman (former US Naval Academy engineer and naval aviator) and Principal/CFO Brent Zimmerman, supported by a senior team whose individual career track records exceed $2 billion in development and construction volume. The company employs 11–50 people.

Name

Capital City Real Estate

Legal name

Capital City Real Estate, LLC

Website

https://capcityre.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Capital City Real Estate, founded in 2006 and headquartered in Washington DC, is a privately held developer of urban residential and mixed-use projects across the DC metro, Atlanta, Charlotte, Richmond, and Fairfax markets. Projects range from boutique condominiums to 350-unit multifamily joint ventures with institutional capital partners.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Lessors of Real Estate (5311), Real Estate Property Managers (53131), Other Financial Investment Activities (5239)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operative Builders (1531), Investors, Nec (6799)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

akta.pro secondary industries

Residential Real Estate Asset Management (BPAJAMAA), Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Real Assets — Real Estate (Core, Core+, Value-Add, Opportunistic) (FSAHAIAA)

Keywords

• Real estate development
• Multifamily housing
• Urban infill development
• Mixed-use properties
• Condominium development

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Property Development and Sales: Capital City develops residential properties including condominiums and multifamily apartments for sale to end buyers. Revenue is generated through the sale of developed properties including luxury condos, boutique condominium buildings, and large-scale multifamily developments.
2. Rental Income: The company develops and holds multifamily rental properties, generating recurring rental income from tenants in apartment communities such as The Mill, The Indie, Rialto, and others.
3. Investment Partnerships: Capital City creates investment opportunities for partners and investors, offering joint venture arrangements where investors provide capital for development projects in exchange for returns.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Capital City Real Estate is an integrated real estate development firm that acquires, develops, constructs, markets, and sells or holds residential and mixed-use properties in urban infill locations across the Washington DC metro area, Atlanta, Charlotte, Richmond, and Frederick. Its portfolio spans ground-up multifamily apartment communities (e.g., The Mill, Loria Ansley, The Indie), boutique and waterfront condominium buildings (e.g., Peninsula 88), and adaptive reuse/historic renovation projects, with revenue generated through unit sales, rental operations, and joint venture equity partnerships.

Product overview

Capital City Real Estate is a real estate development company offering a portfolio of residential property developments across the Washington DC metro area, Atlanta GA, Charlotte NC, and Richmond VA markets. The company specializes in urban infill development, mixed-use properties, and boutique condominiums. Their product portfolio includes large-scale multifamily apartment communities (Loria Ansley, The Mill, Commodore), mid-sized residential properties (The Indie, Rialto, Peninsula 88), and smaller boutique condominium projects (The Morgan, The Apex, 301 H Street, Columbia 13). The company operates an integrated model covering acquisitions, development, construction, sales, marketing, and investment services. Projects range from ground-up development to conversions of historic properties, with a focus on urban neighborhoods and transit-oriented locations.

Differentiator

Problem solved

Functional benefit

Products and services

• The Mill 281-unit Class A multifamily apartment community in Charlotte, NC, offered as a transit-oriented build-to-rent development adjacent to the Sablewood community and the Sugar Creek Blue Line LYNX Station. Targets urban renters in the NoDa arts district and is delivered in partnership with Pennington Real Estate Partners.
• N29 Apartments Seven-story, 260-unit mixed-use residential and retail project in Fairfax City at WillowWood Plaza, including 16 affordable units and 5,000 SF of ground-floor retail. Approved by Fairfax City Council and developed for renters seeking walkable, transit-accessible housing.
• Loria Ansley 350-unit luxury multifamily apartment complex in Midtown Atlanta's Arts District, delivered as a joint venture with Atlantic Realty Partners, FIDES Development, and Mitsui Fudosan America. Includes sky bridge, co-working, fitness center, wine bar, pool, and rooftop bar. Targets high-end urban renters.
• Peninsula 88 110-unit waterfront condominium at 88 V Street in Southwest Waterfront DC — the first residential project to break ground on Buzzard Point. Units range from 700 to 1,400 SF, priced from $500,000 to $1.5 million, with 8-story design by Eric Colbert & Associates. Targets luxury urban buyers.
• The Indie 91-unit multifamily residence in Old Fourth Ward, Atlanta with 16,000 SF of office/retail space. Historically inspired design transitioning to a modern tower. Offered for lease to urban renters seeking walkable, amenity-rich living.
• Rialto 74-unit residential property at 410 Rhode Island Avenue NE in Washington DC with 3,500 SF of ground-floor retail. Industrial-chic architecture with Italian finishes. Offered for lease in a transit-accessible DC location.
• Commodore Boutique multifamily property in the Old Town Manchester neighborhood of Richmond, Virginia. Modern industrial design with nautical details, quartz finishes, and a rooftop amenity deck with James River views. Targets renters in a redeveloping urban riverfront submarket.
• Magnolia Haus Boutique multifamily property near Historic Frederick, Maryland. Modern farmhouse design with best-in-class features and finishes at the foothills of the Catoctin Mountains. Targets renters seeking boutique suburban-edge living with urban design cues.
• The Roycraft 42-unit boutique condominium on Atlanta's BeltLine in the Virginia-Highland neighborhood. Craftsman-inspired design with penthouses and expansive private roof decks. Sold-out for-sale condominium product targeting buyers seeking BeltLine-adjacent ownership.
• Flats at The Indie 29-unit boutique condominium at 22 Airline Street in Old Fourth Ward, Atlanta, developed in partnership with Historic District Development Corporation. Industrial exterior with modern interiors. Sold-out for-sale condominium product in partnership with a community-focused developer.
• 1701 H Street 180-unit mixed-use apartment building with 15,000 SF of ground-floor retail in the H Street Corridor along the DC Streetcar line. Targets urban renters in one of DC's most active nightlife and retail corridors.

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and supporting.

• Pennington Real Estate PartnerscoreStrategic or Co-development Partner · 28 May 2025Joint venture partner for The Mill Charlotte project - a 281-unit multifamily development in opportunity zone. Capital City and Pennington partnered on development and secured $48M construction financing through Concord Summit Capital.
• Atlantic Realty PartnerscoreStrategic or Co-development Partner · 1 January 2021Joint venture partner for Loria Ansley project in Midtown Atlanta - a 350-unit luxury multifamily development in the Arts District.
• FIDES DevelopmentcoreStrategic or Co-development Partner · 1 January 2021Joint venture partner for Loria Ansley project in Midtown Atlanta alongside Atlantic Realty Partners and Mitsui Fudosan America.
• Mitsui Fudosan AmericacoreStrategic or Co-development Partner · 1 January 2021International joint venture partner for Loria Ansley luxury multifamily project in Midtown Atlanta.
• Historic District Development Corporation (HDDC)supportingStrategic or Co-development PartnerPartnership with HDDC for Flats at The Indie project - a 29-unit residential development in Atlanta's Old Fourth Ward neighborhood.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• MRP Realty: Washington DC–based commercial and residential developer with a multifamily and mixed-use pipeline. Comparable in urban DC/Northern Virginia development focus and mixed-use execution capability.
• The NRP Group: National multifamily developer with strong Mid-Atlantic and Southeast presence. Comparable product (Class A market-rate multifamily), JV equity structure, and expansion across similar growth metros.
• Atlantic Realty Partners: Mid-Atlantic and Southeast multifamily developer and investment partner. Directly comparable as a JV partner profile and as a competing developer of Class A urban multifamily in the same metros Capital City targets.
• City Interests: Washington DC real estate developer focused on urban residential, mixed-use, and boutique condominium projects. Comparable scale and DC-centric infill strategy to Capital City's residential core.
• Penzance: Washington DC–based real estate investment and development firm operating across the Mid-Atlantic. Directly comparable as a mid-size, urban-focused developer pursuing mixed-use and multifamily opportunities in DC.
• Kettler: DC-metro focused real estate development and investment firm active in multifamily and mixed-use residential. Comparable geographic footprint and urban infill product type, including Class A apartment communities.
• RangeWater Real Estate: Atlanta-based multifamily developer and operator with growing footprint across the Southeast. Highly comparable given shared Southeast (Atlanta, Charlotte) geographic focus and multifamily rental strategy.
• Donatelli Development: DC-area boutique condominium and townhome developer. Closely comparable in product mix (urban boutique condos and small multifamily) and Washington-focused submarket strategy.
• JBG SMITH: Publicly traded REIT and developer focused on mixed-use, multifamily, and office in the Washington DC metro. Most directly comparable given overlapping DC urban infill and mixed-use development strategy.

Broad incumbents

• Wood Partners: One of the largest multifamily developers in the US with active Southeast and Mid-Atlantic pipelines. Comparable product type (Class A urban multifamily) but at meaningfully greater scale and capital base than Capital City.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Instagraminstagram.com/capitalcityre
• Xx.com/CapCityRE
• Facebookfacebook.com/CapCityRE
• LinkedInlinkedin.com/company/capital-city-real-estate-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capital City Real Estate