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

95: Properties

13.7 M SF: Operating Portfolio

$6.0 B: Gross Asset Value²

$2.7 B: Net Asset Value²

Sample Assets in Our Portfolio

Bainbridge Shady Grove

Rockville, MD

East Market – The Ludlow

Philadelphia, PA

2161 Hawkins

Charlotte, NC

Confluence Apartments

Denver, CO

3737 Buffalo Speedway

Houston, TX

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

Press Releases

10/24/2025

The Stacks Awarded NAIOP “Best of the Best – Building” and “Best Mixed-use Project” at Annual Awards Gala

Akridge and National Real Estate Development Recognized for Transformative Waterfront Vision and Place-Making Excellence in Southwest D.C. WASHINGTON, D.C. – On Thursday evening, The Stacks, a dynamic mixed-use community in Buzzard Point, was awarded the Award of Excellence – Best Mixed-Use Project and Best of the Best – Building at the 2025 NAIOP DC|MD Awards […]

Press Releases

10/22/2025

National Real Estate Development Reaches Major Construction Milestone at Aviator House in Washington, D.C.

WASHINGTON, D.C. –Today, National Real Estate Development, LLC, announced a key milestone in the conversion of 1625 Massachusetts Avenue, now officially named Aviator House, from a former office building into a 157-unit residential community. The project has achieved startup of permanent electrical power by Pepco — an accomplishment celebrated with an inaugural “Power Up” […]

National Insights

09/16/2025

Economic Insights: The Fed at a Crossroads

Written By National’s Head of Research and Analysis, Darob Malek-Madani Over the past year the job market appeared strong while inflation hovered above the Fed’s target. This dynamic made it relatively easy for the Fed to continue to keep rates high and wait for inflation to come down. Now, however, there are signs the labor […]

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Meet The Team

Kevin Verdi

Chief Investment Officer

Washington, D.C.

Thomas (TJ) Hofheimer

Managing Director, Portfolio and Asset Management

Washington, D.C.

Michael Fenner

Senior Director, Portfolio and Asset Management for INDURE

Washington, D.C.

Dennis Meaney

Director, Investor Relations – Electrical Industry Liaison

Washington, D.C.

Nicole Roman

Senior Director, Investor Relations

Washington, D.C.

Juanita Espinoza

Coordinator, Investor Relations

Washington, D.C.

As of 06/30/2025

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.