Apartment building atop the Petworth Metro acquired October 2012
Dynamic, emerging neighborhood with a mix of uses – residential, retail and entertainment
Building and units will be renovated to meet emerging demand
Redevelopment potential provides additional upside
Restructured the existing ground lease with the District of Columbia to assist in project financing
Multiphase projects encompassing – 800,000 sf of development in an underserved hotel market near several universities and hospitals
Phase I to include a – 266 key dual-branded Marriott Residence Inn and Marriott Courtyard Hotel with restaurant and meeting space
Phase II contains an additional – 600,000 sf, currently in planning
Purchased 88,829 sf Class A, office building located in the Dulles Corner/ Innovation Center submarket of Herndon, VA at significant discount to replacement cost
Upgraded building for today’s highly selective tenant community, leasing vacant space and extending major tenant
Creating asset with reliable, long term cash flow