INDURE Fund

Multifaceted Portfolio:

We invest in diverse sectors, including multifamily, data centers, medical buildings, office, and healthcare

Geographical Diversification:

We invest in projects spanning the U.S.

Development Focus:

We seek to create value through constructing and enhancing real estate

2010: Inception Date¹

148: Projects Delivered Since 2000

92: Properties

14.3 M SF: Operating Portfolio

$6.1 B: Gross Asset Value²

$2.7 B: Net Asset Value²

Sample Assets in Our Portfolio

East Market – The Ludlow

Philadelphia, PA

Grove Pointe

Jersey City, NJ

East Market

Philadelphia, PA

Journal Squared

Jersey City, NJ

Ellis Bethesda

Bethesda, MD

Project Spotlight

Journal Squared in Jersey City, NJ, is a 2.4-million-square-foot mixed-use development adjacent to the Journal Square PATH transportation station, a hub to Manhattan, NY. It consists of three towers with 1,843 rental apartments and ground-floor retail.

News & Insights

Data Centers

06/03/2026

Our Data Center Outlook: Growth, Demand, and Constraints

In our latest video, Nicole Roman, Senior Director of Investor Relations, is joined by TJ Hofheimer and Ben Kanne, co-portfolio managers of National’s Data Center investment platform, to discuss the trends shaping the sector. The conversation explores the rapid acceleration of AI-driven demand, increasing power constraints, and the evolving requirements for data center design and […]

Construction & Development

05/07/2026

Construction Spotlight: The Stacks’ Vision, Design, and Building at an Unprecedented Scale

An interview with Katie Hartley, Managing Director, National Real Estate Development, and Brian Dylus, Senior Director, Construction Management, National Real Estate Development. The Stacks is a transformative 2-million-square-foot mixed-use waterfront neighborhood redefining Buzzard Point in Southwest Washington, D.C. Located at the confluence of the Anacostia and Potomac Rivers, the former industrial site has […]

Construction & Development

04/09/2026

The Stacks Named 2026 Costar Multifamily Development of The Year

The Stacks, a 7-acre, two-million-square-foot mixed-use waterfront neighborhood in Buzzard Point, has been named the 2026 CoStar Impact Award winner for Multifamily Development of the Year in Washington, D.C. The award is one of the industry’s highest honors recognizing projects that demonstrate exceptional impact, innovation and execution. Developed by Akridge and National Real Estate Development, The Stacks delivered in early […]

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As of 12/1/2025

National commenced operations on January 1, 2010. National’s key senior investment management personnel worked together at National’s predecessor firm, NEBF Real Estate, from 2000 through 2010. National was the result of a spin-out of an internal division of the NEBF, and all senior investment management, involved in real estate investments, transitioned from NEBF Real Estate to National.
INDURE’s assets under management reflected above represent the aggregate Gross Asset Values and Net Asset Values, respectively, in each case calculated as set forth below:
- Property-Level Gross Asset Value (“GAV”) is based on property-level unleveraged values for real estate investments. The reported GAV is based on the “as is” value (including properties in development) per the most recent property appraisal and includes working capital and other adjustments such as lender and capital reserves and construction costs spent. However, the GAV for debt (senior and subordinate loans) investments is reported as the fair value of the loan, as opposed to the fair value of the underlying collateral (property). The GAV (Pro Rata) at Market is the ownership % interest of the Property-Level GAV.
  - Fund’s Share Property-Level GAV: The Fund’s share of GAV is reported at the Fund’s economic interest in the investment, which takes into consideration any applicable preferred returns and/or promoted interests, per the partnership operating agreements (if not wholly owned)
  - Fund-level GAV: Fund-Level GAV represents the Fund’s economic interest in real estate investments, cash, cash equivalents, and other Fund assets as defined by National. More information can be provided upon request.
- Net Asset Value (“NAV”): Net assets under management are calculated using the Fund’s Share Property-Level NAV of investments, plus cash and other assets and liabilities. The calculation is explained further below:
  - Property-Level NAV for Equity Investments: For equity investments, the Property- Level NAV equals the Property-Level GAV less marked-to-market debt.
  - Property-Level NAV for Debt Investments: The NAV for mezzanine and debt (senior and subordinate loans) investments is reported as the fair value of the loan.
  - Fund’s Share Property-Level NAV: The Fund’s share of NAV is reported at the Fund’s economic interest in the investment, which takes into consideration any applicable preferred returns and/or promoted interests, per the partnership operating agreements (if not wholly owned).
This is not an offering or the solicitation of an offer to purchase an interest in INDURE Build-to-Core Fund, LLC (“INDURE”). Any such offer or solicitation will be made only by means of a final offering memorandum and only in those jurisdictions where permitted by law. Investment in INDURE is available only to accredited investors, as such term is defined in rule 501(a) under the securities act of 1933, as amended.