Artery Capital Group

Artery Capital Group LLC

Investing, Developing, Building, and Managing Real Estate Since 1959


Between 1960 until it ceased internal homebuilding operations in 1994, affiliates of Artery constructed and sold over 12,000 entry-level homes in the Washington, DC suburbs. At its peak in the late 1980s, affiliates of Artery constructed and sold over 700 homes per year, making it one of the largest homebuilders in the Washington, DC area. Affiliates of Artery currently own interests in for-sale residential developments in Loudoun County, Virginia.


Between 1962 until it sold its remaining apartment portfolio in 2006, affiliates of Artery developed or acquired and renovated over 13,000 apartment units. The disposition of the Artery apartment portfolio included the tax-advantageous contribution of several communities to Equity Residential Properties Trust (ERP) in exchange for an interest in ERP that is still maintained by affiliates of Artery. Henry H. Goldberg, the founder and owner of Artery, was a member of the Board of Directors of ERP for eight years.

Artery was one of the first apartment landlords to offer large washers, dryers, and microwaves, discounts for referrals and military personnel and was an innovator in the use of low-cost HUD financing and tax exempt bonds. Artery’s high customer satisfaction ratings from its renters benefited its homebuilding operations as many renters at Artery apartment properties eventually bought a house at an Artery development.


Between 1983 and 1993, Artery partnered with the Charles E. Smith Companies (now JBG Smith) to develop four Class A office buildings in the Washington, DC suburbs: 7200 Wisconsin Avenue (Artery Plaza), Arlington Courthouse Plaza II, One Democracy Plaza, and Fairfax County Government Center. Artery’s buildings featured a very innovative design; Artery Plaza was chosen as the Most Outstanding New Office Building of 1986 by Montgomery County, Maryland. Artery sold its office building portfolio before the financial crisis of 2008.


Between 2000 until it sold its remaining land under development in 2013, Artery affiliates formed strategic partnerships with large homebuilders, including NVR, Beazer Homes, and Richmond American Homes to acquire and develop residential subdivisions comprising over 5,000 lots in the Washington, DC suburbs. Artery managed the entire land development process including site selection, acquisition, design, programming, obtaining land use approvals, budgeting, obtaining financing, constructing all site improvements, and marketing and selling the finished lots. Affiliates of Artery continue to own the rights to collect annual “front foot benefits” (deferred payments for water and sewer infrastructure installation) from approximately 2,000 homeowners in Maryland, providing a predictable long-term source of recurring cash flow.


In 2000, Artery affiliates developed Shops at Town Center, a Safeway-anchored 125,000 square foot Class A shopping center in Germantown, Montgomery County, Maryland, adjacent to a 328-unit apartment complex and 228 residential lots also developed by Artery affiliates. Artery sold the shopping center in 2017. Artery’s sister companies, Turtle Bay Partners and Gramercy Property Group, managed by Jon Goldberg, have acquired and manage over a dozen shopping centers in the eastern half of the United States.


In 2003, in partnership with Pinnacle Hotel Management Company, Artery developed the Homewood Suites by Hilton Columbia, a 150-room hotel that remains under the ownership of an Artery/Pinnacle joint venture. The hotel consistently ranks at the top of its competitive set.


In addition to real estate, Artery’s investment affiliate owns a portfolio of marketable securities.