212.612.9100    support@urbanamerica.com

East River Park

322 40th St NE

Washington, D.C.

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Market: Washington, D.C.

Type: Retail

Role:  Equity Investment & Asset Management

Acquisition Drivers

  • Ability to partner with local not-for-profit organizations
  • Dense urban population with strong buying power & quality retail
  • Strong demand for quality retail assets in this market
  • Stable national tenants such as CVS & Safeway
  • Acquisition bolsters UrbanAmerica’s presence in the Washington, D.C. market

UrbanAmerica Enhancements

  • Secured financial subsidies to augment return
  • Maintained 100% occupancy during holding period
  • Remodeled asset
  • Upon completion of capital improvements, increased rents and introduced new national tenants
  • Converted CVS percentage rent to base rent upon renewal
  • CVS sales surpassed $1,200 per sq. ft.