Property

Cash Flowing DC Office Property Washington, DC

Property
Type
Office
Investment Type
Property
Asset Profile
Core Plus
Min. Investment
$25K
Estimated Hold
9Y
Target Return (IRR)
14.5%
Target Annual Cash
7.6%
Target Equity Multiple
2.76x
 

Offered By

JOSS Realty Partners LLC Experienced Sponsor

New York, NY

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Assets Under
Management

Currently
$484MM
Exited
$336MM
Portfolio LTV
56%
Historical
Realized Returns

Total IRR
10.7%
Equity Multiple
1.5x
Annual Cash
N/R
Years Of
Experience

As Principals
30+ years
In Business
12 years
Size
5 Staff
* All information is reported by JOSS Realty Partners LLC as of 5/4/2017.
 

About this Property

Opportunity to participate in JOSS Realty Partners' investment in a stabilized boutique office and retail property prominently situated in amenity rich Upper Georgetown/Glover Park generating approximately 7.6% of projected average annual cash flow. Core plus coupon clipper and one of the preferred office buildings for small tenants desiring value alternative. JOSS Realty Partners purchased this property in 2014, and this is an opportunity for new investors to purchase up to 8.2% of equity from existing investors.

The Class B office market has been growing increasingly supply constrained as buildings are taken out of supply to be repositioned to Trophy or Class A and demand for Class B product has remained strong as emerging sectors such as tech, media, healthcare, nonprofits & education continue to seek new office space.

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Key Points

  • Steady cash flowing mixed use office/retail property 87% occupied by a diverse mix of tenants with no single tenant accounting for more than 11% of the total rentable square footage.

  • Stable tenant base with room to boost occupancy and raise rates.

  • Retail tenants are a diverse mix including restaurants, hardware, beauty salon, yoga, and fine furniture.

  • Office tenants are a diverse mix including medical, media, embassies, architects, insurance agencies, and others.

  • Residential repositioning upside with potential of adding up to 59,000 FAR sf of density.

 

Financials

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Location Details

Washington, DC

Upper Georgetown is a vibrant 24/7 urban locale with a high walkability rating for shopping, hotels, restaurants, and bars. The average household income in the submarket is over $150k which is the highest median household income in the country. The neighborhood caters to over 15,000 households and top notch schools. 70,700 net new jobs were added in Metropolitan DC at the close of 2016 with growth most robust in high-income office-using sectors.

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Documents

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Frequently Asked Questions

Below are some of the most frequently asked questions about this offering.

The first projected distribution is scheduled for November 2017.

Distributions are scheduled to go out on a quarterly basis.

Yes, non-US residents are welcome to apply.

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Have a Question?

Send JOSS Realty Partners LLC and/or RealCrowd a message. If you have a question about this offering ask JOSS Realty Partners LLC. If you have a question about the transaction process or other general inquiry, RealCrowd will be happy to help.

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