Banyan Street Capital has commenced an $8 million capital improvement plan at 1250 H Street, a 199,016-square-foot office building in Washington, D.C.’s East End submarket.
The upgrades will include new exterior updates, a brand new two-story lobby and a 140-person conference and lounge amenity to add to the full-service gym and outdoor rooftop amenity space. Banyan acquired the office building, which was originally built in 1992 and sits on the corner of H Street and 13th Street, in late 2024.
The property is situated one block from Metro Center Station and a few blocks from the White House, CityCenterDC and Capital One Arena. Banyan is operating the property and overseeing construction in-house for 1250 H Street, while Cushman & Wakefield‘s Phil Dickinson, John Benziger and Chris Getz are managing the leasing effort. Collective Architects led the design work for the lobby.
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
Learn more
An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
Learn more
The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
Learn moreRe/Max Real Estate Professionals
Central CA Commercial | California
Recckio Real Estate & Development
Northgate Real Estate Group
California
California