1501 M Street NW
Former holding of the principals sold in February of 2006 for $65.8 MM
1501 M Street Acquisition Strategy
- Off-market acquisition at advantageous pricing.
- Purchase Price at a discount to replacement cost.
- Short term rollover allowing for repositioning of asset to take advantage of improving submarket fundamentals.
- American Real Estate Partners boutique trophy asset allowing for a significant mark to market.