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UIP Aquires Three Big Apartment Buildings in Columbia Heights and U Street

by Prince Of Petworth June 28, 2011 at 10:30 am 59 Comments

3435 Holmead Place, NW

I look forward to checking out the renovations when they begin.

From a press release:

Urban Investment Partners (UIP) has acquired three Washington, D.C. apartment buildings at a foreclosure auction for $12,375,000. The buildings, totaling 163 rental units, are located in the Columbia Heights area of northwest Washington.

This acquisition represented three of five properties recently foreclosed by a New York City-based investment group that acquired the debt on the properties from New York Community Bank. The buildings acquired by UIP, a leading real estate investment, development, and property management group based in the District, are:

1430 W Street, NW with 26 units ($3.25 million)
3308-3312 Sherman Avenue, NW, with 34 units ($2,075,000)
3435 Holmead Place, NW with 103 units ($7.05 million)

1430 W Street, NW

3308-3312 Sherman Avenue, NW Courtesy of UIP


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