In 2018, Lubert-Adler, in a Joint Venture, made a preferred equity investment in the redevelopment of the 184,000 square foot Whitman-Walker Health Facility in the 14th Street corridor of Washington, D.C.
Washington D.C.’s 14th Street corridor includes some of the best retail, grocery and full-service restaurants in the city.
The Joint Venture developed a new mixed-use property, consisting of 78 apartments, 23,000 square feet of street retail, 53,000 square feet of office space, and 50 underground parking spaces. The retail and office space was fully leased at above pro-forma rates.
Finally, delivery was achieved in the Summer of 2019 and the property was sold in 2020.