PRP Real Assets, a Washington, D.C.–based real estate investment management firm, has acquired 900 19th Street NW, a 116,385-square-foot office tower in the heart of the city’s Central Business District.
Positioned at the corner of 19th and Eye Streets, between K Street and Pennsylvania Avenue, the corner building sits 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.
The previous owner completed a comprehensive base-building and aesthetic redevelopment of the property. “900 19th Street is exactly the kind of asset we look for in the current market, an institutionally repositioned building in the most durable corridor in the District, acquired at a basis that cannot be replicated through new construction,” said Jon McAvoy, Chief Investment Officer of PRP Real Assets.
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