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Real Capital Solutions Buys DC Office Tower for $29M
Real Capital Solutions (RCS) has acquired 1501 M Street NW, an 11-story office building located in the heart of Washington, DC’s East End submarket. The property was purchased for $29.3 million.
Transwestern’s Gerry Trainor brokered the transaction. “This acquisition represents our strategic approach to invest in high-quality office assets in a prime location at a significant discount to replacement cost,” said Marcel Arsenault, Chairman, CEO, and Founder of RCS.
Designed by Hartman-Cox Architects, the building features 178,510 rentable square feet, and the property benefits from recent enhancements, including a $13 million investment to upgrade the lobby, restrooms, fitness center, and a three-story “Town Hall” amenity space.
RCS plans to add further improvements, including a spec suite program and the expansion of the Town Hall concept to the 7th and 8th floors. The property’s corner location at 15th and M Street NW offers access to public transportation, dining, retail, and the 14th Street Corridor.
