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PRP Real Assets buys 900 19th Street NW office tower in Washington
The 116,385-square-foot building is in the District’s Central Business District at 19th and Eye Streets, about three blocks west of the White House.
PRP Real Assets, a Washington, D.C.-based real estate investment management firm, has acquired 900 19th Street NW, an office tower totaling 116,385 square feet in the city’s Central Business District, ConnectCRE reported.
The property sits at the corner of 19th and Eye Streets, between K Street and Pennsylvania Avenue, and is described as three blocks west of the White House, steps from the Farragut West Metro station, and within walking distance of the World Bank and International Monetary Fund headquarters.
ConnectCRE said the prior owner completed a comprehensive base-building and aesthetic redevelopment of the property before the sale.
Jon McAvoy, chief investment officer of PRP Real Assets, said the firm looks for institutionally repositioned buildings in what he characterized as the District’s most durable corridor, adding that it was acquired at a basis he said could not be replicated through new construction.