Urban Investment Partners has closed on Onyx on First, a 266-unit, Class A apartment building located in the Capitol Riverfront neighborhood of Washington, DC for $95.5 million. This is UIP’s largest ever single-asset transaction and its first of 2018. UIP partnered with Atalaya Capital Management of New York City on the acquisition. The new ownership plans to work with the building’s residents under the District’s Tenant Opportunity to Purchase Act (TOPA) to undertake a variety of building improvements.
Washington REIT has leased a full floor (13,000 square feet) at the historic Army Navy Building in the heart of Washington, DC to a major national nonprofit organization. The 109,000 SF LEED Gold certified building is now 71 percent leased to a variety of prestigious tenants. At the same time, Washington REIT is completing a thoughtful $4 million renovation that has created a VIP tenant amenity in previously under-utilized space.
Boutique developer Pecar Properties is developing two condominium buildings, with a total of 46 units, on former church-owned property just two blocks from the Potomac Avenue Metro station in Washington, DC. Stone Flats at 1337 K Street, SE and Stone Hill condos at 1345 K Street represent the eastward march of church-to-condo transformation as developers […]
Urban Investment Partners (UIP) of Washington, DC has acquired a ten-story building at 2601 Virginia Avenue, NW across from the Watergate mixed-use complex for $36 million. The seller was George Washington University (GWU), which had used the building as student housing for 17 years. Hall on Virginia Avenue achieved notoriety while operating as a Howard […]