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West End Office Conversion Project to Break Ground Next Month

WASHINGTON, DC—Kensington, MD-based Tasea Investment Co. and the Auger family will begin work on an office conversion project that has been anticipated…

By Erika Morphy | erikamorphy | Updated on May 18, 2016

Rendering for 1255 22nd St., NW Rendering for 1255 22nd St., NW

WASHINGTON, DC—Kensington, MD-based Tasea Investment Co. and the Auger family will begin work on an office conversion project that has been anticipated for more than a year, according to filings with the DC Council. The existing building, located at 1255 22nd St., NW,  will be completely re-skinned and redeveloped into a nine-story carriage home and then connected to a new two-story carriage home built on the adjacent lot. The 197-unit apartment community will also have 5,000-square feet of retail.

Tasea recently secured $20.6 million in mezzanine financing from Chevy Chase, MD-based Federal Capital Partners, which followed senior financing that it arranged from Eagle Bank.

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