Local Developer Purchases Multifamily Property in the H Street Corridor – DC’s Newest “Hot Spot”
Washington, D.C. – April 14, 2016 -- CBRE is pleased to announce the recent sale of the Flats at Atlas, a 257 unit community located in the heart of the H Street Corridor at 1600 Maryland Avenue, NE in Washington, D.C. A joint venture of affiliates—Kettler and Westbrook Partners—purchased the Class A building with 3,450 sq. ft. of street-level retail.
Built in 2012, the Property is steps away from public transportation and an eclectic mix of theaters, restaurants and music venues. Kettler and Westbrook also have the opportunity to develop additional residential density on the adjacent lot.
The Flats at Atlas offers premium fixtures and finishes in each unit along with community amenities such as a pool, fitness facility, basketball court and business center.
“This Property boasts top-of-the-line amenities and design, strategically positioned to attract the District’s Millennial workforce,” said Andy Boyer, Executive Vice President, CBRE. “With Millenials comprising of almost 28% of the D.C.’s population, the demand for transit-accessible housing that is also near recreation and nightlife activities continues to increase.”
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.