JV ACQUIRES D.C. MULTIFAMILY PROPERTY FOR $154M

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WASHINGTON, D.C. — A joint venture between UDR and Kuwait Finance House (KFH) has acquired the 292-unit 1301 Thomas Circle, a 10-story multifamily property in Washington, D.C., for $154 million. The property is currently 94 percent leased. Amenities include a rooftop pool, outdoor kitchen, fitness center, clubhouse, private courtyard, business center and 24-hour concierge. Fannie Mae provided a $90 million interest-only loan for the acquisition, KFH provided $44.8 million and UDR provided $19.2 million.

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