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Adams Morgan Condo Trades in Sale Leaseback

WASHINGTON, DC—College Summit has sold a commercial condo in Adams Morgan in a sale leaseback transaction. Walker & Dunlop reports it originated $617 million in student housing loans last year.

By Erika Morphy | erikamorphy | | Updated on March 17, 2016
Imperial Building Imperial Building
WASHINGTON DC—College Summit has sold a 27,000 square foot commercial condo in the Imperial Building at 1763 Columbia Rd., in Adams Morgan. It will remain as a tenant in the space. Rob Foa and Patrick Barrett of MG Commercial led the sale of the property on behalf of the Menkiti Group.   W&D Originated $617M in Student Housing Loans Last Year BETHESDA, MD—Walker & Dunlop announced it originated $617 million in student housing loans last year. The transactions included a $55.9 million Fannie Mae loan for a student housing complex near Cornell University, a $48.8 million Fannie Mae loan for a project at Arizona State University, and a $24.0 million Freddie Mac loan for a project at the University of Texas at San Antonio. In 2014, W&D originated $649 million in student housing loans.
The Geraldine The Geraldine
MF Property Values East of the River Are “Dramatically Increasing” WASHINGTON, DC—The Geraldine, a 42-unit apartment property located at 4301 Wheeler Rd in the Congress Heights submarket has traded for $3.8 million or $91,000 per unit. Marcus & Millichap’s Cameron Webb, Stacey Milam, Christian Alves and Jesse Mates marketed the property on behalf of the seller, a local private investor. Webb, who also secured the buyer, another private investor, said the transaction is an example of how values are “dramatically increasing” east of the river. “Even as recent as December 2014, we sold a similar property only two blocks away for $86,000 per unit.” “There is a true rush to capitalize on the accelerating appreciation within this market,” he said.

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