WASHINGTON, DC–A few weeks ago the locally-based White Star Investments, which represents that family office of Ken Bajaj, acquired 4209 9th St., NW, an 11,500-square foot office building in Petworth. For anyone following the firm the acquisition was a bit of a departure: for the most part it has acquired and developed and renovated one asset class — retail — save for another office building in Loudoun County.
This is not to say that White Star doesn't look at other asset classes, according to Chief Investment Officer Craig Bernstein, who joined the firm for ten years from Cushman & Wakefield. “We acquire quality multi-generational assets that the family can own for long time,” he tells GlobeSt.com. “We evaluate these assets on a case by case basis.”
All together the firm owns nine assets and is currently working on its 10th — a retail holding in an emerging market in the District, according to Bernstein.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
