DC Apartments Trade Hands in $19M Deal
By Keith Loria July 29, 2020 10:31 am
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Viking Capital has acquired The Griffin, a 49-unit apartment building in Washington, D.C., from Donatelli Development for $19.1 million.
Located at 3801 Georgia Avenue NW, the property is situated in D.C.’s Petworth neighborhood. The deal marks Viking Capital’s first acquisition in the D.C. Metro area.
“Viking Capital looks to invest in properties that are within the path of progress,” Judah Fuld, Viking Capital’s director of acquisitions, told Commercial Observer. “The Griffin is a marquee asset in the emerging Petworth market with incredible population growth and employment opportunities and we are excited to be a part of the surrounding economic renaissance.”
Built in 2011, The Griffin sits one block north of the Georgia Avenue-Petworth Metro station, directly across from a Safeway grocery store.
“The Class A mid-rise building’s location, adjacent to a major metro stop, ensures residents easy access to the many nearby government and corporate employers,” Fuld said. “The Griffin sits squarely in one of the district’s flourishing commercial corridors and Petworth has seen a 17 percent growth in population from 2010 to 2017. It is also near the $1.1 billion Walter Reed project and is located next to three major hospital systems.”
Marty Zupancic and Christian Barreiro of Marcus & Millichap (MMI) represented the seller in the deal.
