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e-Lofts Launches In DC With Eye on National Growth, Public Exit

WASHINGTON, While co-working was a driver of demand in Q1, it recorded almost 5,000 square feet of negative absorption in the last three months, according to CBRE.

By Erika Morphy | erikamorphy | | Updated on July 25, 2016

e-loft Alexandria

WASHINGTON, DC-A provider of flexible work and living space is entering the Washington DC market with hopes to take its business model nationwide and ultimately cash out via a public exit strategy. The company is called e-lofts and it is owned by Novus Residences, a wholly owned subsidiary of Cafritz Interests.

E-lofts is opening its first location, called e-lofts Alexandria, next month at 4501 Ford Ave. in Alexandria, VA, which it purchased last year and renovated for $50 million. E-lofts plans to locate its headquarters there.

There are five additional locations planned for the Washington, DC metro area. The locations haven’t been selected yet as the company is still scouting out acquisition possibilities.

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