Our vertically integrated team of in-house professionals internally manage our own portfolio of properties, investments, loans and development projects. This platform has successfully completed over $1.5 billion of tax credit transactions, $3 billion in real property transactions and today runs the company's robust and diverse privately held portfolio of more than 2.5 million square feet.
A fundamental segment of our success is the legacy and the value we have created while owning, developing and selling over 3,000 apartment and condominium units in the Washington Area.
Our experience in multifamily development began in the 1960's when Stuart Bernstein was on the forefront of condo conversion projects in Washington. He worked tirelessly to provide the dream of homeownership. With his guidance throughout the 60's and 70's, the Bernstein Companies converted thousands of apartments to condominiums.
Today, we are focused on realizing the full potential of our portfolio, where we find opportunities such as 301 M Street, SW. Bernstein acquired two existing towers designed by renowned architect, IM Pei, well before the Southwest Waterfront renaissance. After our acquisition, we renovated one of the apartment towers and implemented a successful lease-up strategy. The other tower was fully renovated in 2011 and sold as condo units at prices over $500 psf. The remaining land was master-planned as a PUD and will be put into multifamily production in phases. Ultimately, this project will support over 600 apartments and condos.