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DC’s financially troubled Newseum has sold its 555 Pennsylvania Ave. NW building for $372.5 million to Johns Hopkins University of Baltimore. The University reached an agreement last week to purchase the building from the museum’s operating foundation, the Freedom Forum. The building is 400,000 sq. ft. and has been the More
Billionaire David Rubenstein’s family office, Declaration Capital of New York, will be partnering with a real estate fund managed by DRA Advisors in a deal to purchase the Montgomery White Oaks Apartments of Silver Spring. The 592 unit community has been acquired for $86.8 million by the joint venture. The More
A State Department office in Foggy Bottom will be starting a conversion to apartments shortly. The eight story office building at 515 22nd Street, NW will be transformed into 153 apartments once the State Department moves out this year. Insight Property Group along with Safety, Income & Growth and iStar More
Another Howard University building will be renovated into apartments. The existing 9 story Howard Center currently houses university administrative offices and a ground floor Starbucks and Barnes & Noble, with those retailers staying in place during and after the renovation. Plans call for 176 apartments on the upper third to More
An agreement that DC government announced with George Washington University Hospital for new hospital at the St. Elizabeth’s East campus came close to falling apart in December. Both the city and the Hospital have been scrambling to come to terms with various provisions that the Hospital could not agree with. More