Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Washington DC CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Washington DC & Mid-Atlantic  + DC + New York  + Finance  |  August 2, 2023
Emily Fu
By: Emily Fu

Varsity Investment Group Secures $33M Refi for Two Georgetown Apartment Buildings 

Varsity Investment Group has secured a $33.4 million loan to refinance Sonder Georgetown and LuxUrban Georgetown; two apartment buildings converted into short-term stay hotels in Georgetown.  

Located at 1111 30th St NW and 1000 29th St NW, the buildings offer over 200 units with various amenities. Varsity purchased Georgetown Suites in 2021, originally built as a hotel, to convert it into a luxury apartment complex. Varsity then worked with Sonder and LuxUrban to master-lease the two buildings to operate as short-term rentals under the names Sonder Georgetown and LuxUrban Georgetown.  

BWE, a commercial and multifamily mortgage banking company, originated the loan from a private credit fund on behalf of the borrower with a team led by Mark Remington and Alec Jenkins.  

Connect

Inside The Story

Mark RemingtonAlec Jenkins

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
Order Reprints
  • ◦Financing
New call-to-action
New call-to-action