PRP Acquires Office Building in D.C.’s West End for $31.6M

WASHINGTON, D.C. — PRP LLC has purchased a 100,000-square-foot office building located at 2501 M St. N.W. in Washington, D.C.’s West End for $31.6 million. PRP acquired the property from the Association of American Medical Colleges on behalf of one PRP’s real estate funds in partnership with an institutional investor. PRP will convert the building into a 60-unit luxury residential condominium property with 11,475 square feet of retail space featuring outside dining. PRP plans to begin selling condo units in 2015 and deliver the finished homes by mid-2016.