1512-1516 K Street SE
Washington, DC

1512-1516 K Street Project

1512-1516 K Street SE
Washington, DC

1512-1516 K Street SE
Washington, DC

1512-1516 K Street Project

1512-1516 K Street SE
Washington, DC

Key Facts

Acquired:         March 2014

Product:           Condominiums

1st Delivery:     Winter 2016

2nd Delivery:    Fall 2017

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The Rubin Group acquired the two properties at 1512 & 1516 K Street SE from the Word of God Baptist Church after two years of working closely with the church leadership. This was a complicated and challenging project, but ultimately gratifying. In order to close on the acquisition of these properties, we had to assist the sellers in finding a new home in Prince Georges County, MD.

While working in close collaboration with the church leadership, we helped them articulate their plan for the congregation, ministry services, and growth and then translate that into a definition of real estate needs. After coming up with a list of key criteria, we guided them through a comprehensive study of alternatives for relocation. In the end, after looking at many sites and engaging in serious negotiations for a few properties, we identified a purpose built structure in late 2014 that met the seller’s requirements for a sanctuary, ministry and educational needs.

The seller purchased its new home in March 2015, at the same time we closed on the purchase of this property.

Planning for the redevelopment of their property has already begun and our plan is to deliver the first units in the later part of 2016.

This project is a good example of the entrepreneurial energy and creative that TRG brings to transactions. The patience which we exhibited in closing this transaction along with the assistance provided to the sellers in defining and meeting their goals has resulted in the potential for an excellent project in the Capitol Hill East submarket at a favorable acquisition price.