1201 & 1225 New York Avenue, Washington D.C.

 
 

1201 & 1225 New York Avenue,
Washington D.C.

Office

1201-1225-New-York-Avenue-Washginton-DC.jpg
 

ACQUISITIONS STRATEGY

  • Attractive, adjoining new buildings four blocks from the White House.

  • Strong, growing Washington D.C. office market.

  • Separate owners; management, tenant and space allocation inefficiencies.

ASSET MANAGEMENT VALUE-ADD

  • Purchased 1201 asset and subsequently acquired the1225 asset thereby increasing tenant space and adding significant value to the property in this key location.

  • Extensive property refurbishment and modernizing.

  • Major re-tenanting with entire building leased to tenants such as U.S. Department of Homeland Security, Federal Elections Commission, and Office of Government Ethics.

RESULTS

Total purchase sold for $215 MM.

Investor IRR: 12.0% p.a. over 6 years

 
OfficeCatherine RhoadesOffice, Northeast