Pacific House
Rehab Residential and Office Condo

Factual Data: Developed by Pacific House, LLC, including MAG and Peak Companies as co-managing members. Located at 1615 New Hamphsire Avenue, NW, Washington, DC in the Dupont Circle neighborhood.

  • 11 apartments, 18,000 sq.ft. office
  • Awarded project after competition through tenant group which had first right of refusal to purchase through local D.C. law
  • Negotiation with tenant group to obtain condominium conversion for residential and office condominiums
  • Complex due diligence, including obtaining Certificates of Occupancy for office tenants which were not in place
  • Negotiation with existing office tenants to either purchase or relocate
  • Acquisition/Renovation financing
  • Successful marketing of office condominium project, a market niche in D.C.
  • Sellout of 11 residential units, including 4 to existing tenants.
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