Jamestown Snags The Ellington for $119M in DC
- Mar 14, 2018
Following the disposition of a 261-unit residential asset in Stamford, Conn. last December, TH Real Estate has sold The Ellington, a 190-unit community located in the historic U Street neighborhood of Washington, D.C. According to public records, Jamestown acquired the building for $118.6 million.
The property is situated at 1301 U St. N.W., in one of D.C.’s most walkable areas, while a variety of retail, dining, entertainment and cultural amenities complement the central positioning. The U Street metro station is just across the street and the Meridian Hill Park is a 13-minute walk away.
Constructed in 2004, The Ellington also provides 16,760 square feet of ground-floor retail. Current tenants include Mattress Firm, United Bank, three ethnic restaurants and a wine bar. The new owner is planning to revitalize the common areas and retail space through 2019. The building’s community amenities include:
- fitness center
- business center
- three elevators
- landscaped rooftop terrace with kitchen and grill
Eastdil Secured brokered the deal on behalf of TH Real Estate, who purchased the property in 2011 for $100 million.
Image via Google Street View