Pacific House - Apartments, Office Condominiums - Dupont - TOPA

Developed by Pacific House, LLC, including Ernest Marcus as co-managing member.

• 11 apartments, 18,000 sq.ft. office

• Awarded project after competition through tenant group which had first right of refusal to purchase through local D.C. law

• Negotiation with tenant group to obtain condominium conversion for residential and office condominiums

• Complex due diligence, including obtaining Certificates of Occupancy for office tenants which were not in place

• Negotiation with existing office tenants to either purchase or relocate

• Acquisition/Renovation financing

• Successful marketing of office condominium project, a market niche in D.C.

• Sellout of 11 residential units, including 4 to existing tenants.