Bostonia - Header Image - Case Study - 225 Virginia Avenue SE, Washington DC

Transactions

225 Virginia Ave, Washington DC

  • Redevelopment of existing facility into Class A, LEED Silver office space.
  • 24 month construction period.
  • 20-year lease with the District of Columbia Government; the property and its improvements will revert to the District at the conclusion of the lease.
  • Approximately $85 million construction to permanent financing.
  • Subject to annual appropriations risk.
  • Following the renovation, the District will save approximately $6.5 million per year in lease payments.
  • Successful public-private partnership solved two issues for the District: an aging office space and a burdensome lease payment for an unfinished, unoccupied building.
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