3333 Wisconsin Ave.
WASHINGTON, DC–A venture led by Urban Investment Partners has acquired 3333 Wisconsin Ave. NW, a 100-unit apartment building in the Cathedral Heights neighborhood. The acquisition closed after the Four Threes Tenant Association selected UIP to acquire and redevelop the building.
Starting in the first quarter of 2019, UIP plans to undertake a million-dollar renovation program to upgrade the building's common areas and make modest improvements to individual apartments. UIP Property Management has taken over the building's day-to-day management.
3333 Wisconsin is UIP's second apartment building acquisition this year. In January it acquired the 266-unit Onyx on First in the Capitol Riverfront for $95.5 million. Built in 2008 as a condominium building and later converted to rental, UIP says that Onyx was the first new multifamily building in this neighborhood
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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.
