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A press release sent out on Tuesday is trumpeting the sales of two of the buildings in the "Capitol Yards" lineup, 909 New Jersey and the Axiom at 100 I Street, the completion of a pending deal that I first wrote about in January. However, back then, residents in Axiom's sibling, the Jefferson at 70 I, were also notified that their building was under contract, but that deal apparently didn't complete with the other two. The 448-unit Jefferson was the priciest of the three offers, at about $165 million, compared to about $94 million for the 245-unit Axiom and $95 million for the 237-unit 909.
Did the Jefferson's residents go out back with metal detectors and find the $165 million needed to purchase the property themselves? Or are there a few more i's to dot and t's to cross to finish the deal? Or is something else afoot?
In the 100 I and 909 New Jersey sales, the buyers are "institutional investors advised by J.P. Morgan Asset Management."
The three buildings were completed by JPI back in 2008 and 2009, but the recession hit the company hard and eventually two of its executives boltered to partner with folks from Akridge to form the Jefferson Apartment Group. But 70/100/909 apparently remained part of JPI's holdings, as did the empty lot at 23 I Street where JPI's fourth apartment building had been planned, until it was foreclosed upon and picked up by Ruben Companies in late 2009. The three buildings, completed in 2008 and 2009, have been managed by Greystar ever since JPI sold its property management division to the company.
UPDATE: I'm hearing chatter that residents of 70 I did form a tenant association to attempt to buy the building themselves, which then adds some additional time to the deal to allow the residents to find financing to match the initial offer. Anyone from the building want to chime in?
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Alan says: (5/2/12 11:41 AM)
A tenant association was formed at 70 I St with the help/prodding/urging of a law firm (Venable, I believe) and there were near-weekly meetings urging residents to join the association and then...nothing. There was a notice posted about electing officers but that meeting was held at the law firm and it's been silence ever since.

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Recent Crime Incidents Archive  
1200 B/O 1ST ST SE   THEFT
Theft 2 (Theft F/Building)
 07/25/15
700 B/O L ST SE   ROBBERY
Robbery Snatch Or Pursesnatch
 07/23/15
1000 B/O HALF ST SE   THEFT
2nd Degree
 07/13/15
400 B/O M ST SE   THEFT
Theft 2 (Theft F/Building)
 07/09/15
70 B/O I ST SE   THEFT F/AUTO
Theft From Auto 1
 07/08/15
100 B/O M ST SE   THEFT
2nd Degree
 07/07/15
300 B/O L ST SE   THEFT
2nd Degree
 07/07/15
70 B/O I ST SE   THEFT
Theft 2 (Theft F/Building)
 07/06/15
300 B/O TINGEY ST SE   THEFT
 07/05/15
1200 B/O HALF ST SE   THEFT
 07/03/15
900 B/O M ST SE   THEFT
 07/02/15
1100 B/O 1ST ST SE   THEFT
 06/30/15
500 B/O M ST SE   THEFT F/AUTO
 06/28/15
1000 B/O 1ST ST SE   THEFT
 06/28/15
1100 B/O NEW JERSEY AVE SE   THEFT
 06/28/15

Recent Issued Building Permits Archive  
1200 1ST ST SE   
07/16/15 
FOREST CITY WASHINGTON / W. TEASS / P.NETTELBECK / TEASS/ WA; RAMSEY MEISER
BCIV1500036 / CONSTRUCTION
CONSTRUCTION OF A TEMPORARY PARKING LOT OPEN PARK SPACE. ALL WORK TO BE PERFOMED IN PRIVATE PROPERTY.
   
07/21/15 
DISTRICT OF COLUMBIA / MARK EY FUHRMAN
E1507720 / SUPPLEMENTAL
1233 1ST ST SE   
07/10/15 
MITCH PERMUY / CLINT HOLMES; MITCH PERMUY; MITCH PERMUY
E18733216 / SUPPLEMENTAL
   
07/14/15 
BALLPARK HOTEL LLC BALLPARK HOTEL LLC / MICHAEL GROSE; BALLPARK HOTEL BALLPARK HOTEL LLC; MITCH PERMUY
E45868221 / SUPPLEMENTAL
1277 1ST ST SE   
07/10/15 
MITCH PERMUY / CLINT HOLMES; MITCH PERMUY; MITCH PERMUY
E93589903 / SUPPLEMENTAL
   
07/14/15 
BALLPARK RESIDENTIAL LLC BALLPARK RESIDENTIAL LLC / MICHAEL GROSE; BALLPARK RESIDE BALLPARK RESIDENTIAL LLC; MITCH PERMUY
E26661076 / SUPPLEMENTAL
1331 2ND ST SE   
07/17/15 
CORMAN CONSTRUCTION / PAMELA STRICKLAND
SH1500057 / CONSTRUCTION
SUPPORT OF EXCAVATION FOR DC WATER OWNED SEWER STRUCTURE CSO 009 / 011A
1016 3RD ST SE   
07/15/15 
CARLOS DIAZ / JOSEPH SEMPER; CARLOS DIAZ; JOSEPH SEMPER
E78706918 / SUPPLEMENTAL
   
07/23/15 
ROBIN SANTILLAN / ROBIN SANTILLAN; ROBIN SANTILLAN; CARLOS MONTES
P55998454 / SUPPLEMENTAL
1331 4TH ST SE   
07/13/15 
FC 1331 LLC / OTIS ELEVATOR COMPANY
EN1501337 / SHOP DRAWING
TYPE OF ELEVATOR : ONE (1) TRACTION / STEEL / CENTRAL / VERTICAL TRANSPOTATION LICENSE NUMBER : ELC1300386 ISSUE DATE : 08 / 04 / 2014 EXPIRATION DATE 11-30-2015
   
07/13/15 
FC 1331 LLC / OTIS ELEVATOR COMPANY
EN1501334 / SHOP DRAWING
TYPE OF ELEVATOR : TWO (2) TRACTION / STEEL / CENTRAL / VERTICAL TRANSPOTATION LICENSE NUMBER : ELC1300386 ISSUE DATE : 08 / 04 / 2014 EXPIRATION DATE 11-30-2015
913 5TH ST SE   
07/13/15 
MARGARET LITTLEJOHN
B1509950 / CONSTRUCTION
TUCKPOINTING. SCAFFOLDING TO BE ERECTED.
1000 5TH ST SE   
07/16/15 
DISTRICT OF COLUMBIA / MAURY M. PARKER
M1502393 / SUPPLEMENTAL
   
07/23/15 
DISTRICT OF COLUMBIA / WALTER T JONES
E1507778 / SUPPLEMENTAL
1007 8TH ST SE   
07/23/15 
CALLE OCHO LLC / JERONE SCOTT
P1507675 / SUPPLEMENTAL
901 HALF ST SE   
07/21/15 
BAKER DCLLC / CHRISTINE LONG
AH1500614 / CONSTRUCTION
AN AFTER HOURS PERMIT IS RESPECTFULLY REQUESTED FROM 3AM THRU 9PM
1015 HALF ST SE   
07/09/15 
HALF ST SE LLC / ANDREW ARNTSON; HALF ST SE LLC; ANDREW ARNTSON
P63100436 / SUPPLEMENTAL
1201 HALF ST SE   
07/27/15 
WEST HALF RESIDENTIAL II LLC / ECS MID-ATLANTIC LLC C/O DON SESER
SB1500398 / CONSTRUCTION
WE WILL PERFORM A TOTAL OF THREE SOIL BORINGS ON THE PROPOSED SITE. THE BORINGS WILL BE ADVANCED TO A DEPTH OF 60 TO 100 FEET BELOW EXISTING SITE GRADES AND WILL BE LOCATED WITHIN THE BOUNDS OF THE PRIVATE PROPERTY. THE BORINGS WILL BE DRILLED UTILIZING 3.25-INCH HOLLOW STEM CONTINUOUS FLIGHT AUGERS. THE BORINGS WILL BE PERFORMED UTILIZING AN ATV-MOUNTED DRILL RIG AND WILL GENERATE AN APPROXIMATE ...
1220 HALF ST SE   
07/09/15 
BUFFALO WILD WINGS / X-PEDITERS PLUS INC.
D1500674 / CONSTRUCTION
INTERIOR DEMOLITION ONLY. PER PLANS.
   
07/13/15 
BUFFALO WILD WINGS / ALLIIANCE
TL1500106 / CONSTRUCTION
TENANT LAYOUT FOR A NEW RESTAURANT IN EXISTING BUILDING. THIS SPACE HAS NOT BEEN PREVIOUSLY OCCUPIED. WORK INCLUDES NEW EXTERIOR FINISHES SIDEWALK CAF? PLUMBING ELECTRICAL AND MECHANICAL AS WELL AS INTERIOR WORK. THIRD PARTY REVIEW.
601 L ST SE   
07/15/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY / EDUARDO L. LOPEZ
E1507545 / SUPPLEMENTAL
55 M ST SE   
07/15/15 
HINES GLOBAL REIT 55 M STREET LLC / CARL J. SMITH
E1507529 / SUPPLEMENTAL
   
07/27/15 
HINES GLOBAL REIT 55 M STREET LLC / ANTHONY G SAMBURG
E1507875 / SUPPLEMENTAL
99 M ST SE   
07/15/15 
BALLPARK SQUARE 701 LLC / LP CONSULTING SERVICES
SH1400072 / CONSTRUCTION
SHEETING AND SHORING AS PER PLANS FOR NEW OFFICE BUILDING
   
07/15/15 
BALLPARK SQUARE 701 LLC / LP CONSULTING SERVICES
FD1500019 / CONSTRUCTION
FOUNDATION TO GRADE IN PREPARATION FOR CONSTRUCTION OF A NEW MIXED USE BUILDING
100 M ST SE   
07/10/15 
SQUARE 743 INC / JOHN MCDONALD
P1507412 / SUPPLEMENTAL
   
07/10/15 
CDI MARINE / CHIP GIBBS VSC FIRE & SECURITY
B1509942 / CONSTRUCTION
ADD ONE SPRINKLER HEAD
   
07/21/15 
SQUARE 743 INC / JOSE UMANZOR-ALVAREZ; SQUARE 743 INC; ROBERT LAWALL
E99685352 / SUPPLEMENTAL
   
07/21/15 
UNKNOWN UNKNOWN / PATRICK BARRON; UNKNOWN UNKNOWN; ROBIN MALLEY
E65875186 / SUPPLEMENTAL
400 M ST SE   
07/23/15 
DISTRICT OF COLUMBIA HOUSING AUTHORITY (LAND) / VERNON A. MONTAGUE
P1507715 / SUPPLEMENTAL
1201 M ST SE   
07/10/15 
WEST HALF 1 LLC /
P1507408 / SUPPLEMENTAL
   
07/10/15 
WEST HALF 1 LLC /
P1507409 / SUPPLEMENTAL
74 N ST SE   
07/23/15 
CAPITOL RIVERFRONT HOTEL LLC / DAVID FONTANA MCKEEVER SERVICES CORP
B1403426 / CONSTRUCTION
CONCRETE PAVEMENT ENTIRELY ON PRIVATE PROPERTY FOR CONSTRUCTION ACCESS TO NEIGHBORING PROPERTY 1265 1ST ST SE.
909 NEW JERSEY AVE SE   
07/17/15 
SCARLET OAK / EVAN O'BRIEN/ D MCKEEVER SERVICES
B1507594 / CONSTRUCTION
TPR. REVISION TO EXISTING PERMIT # TL1500002. VALUE ENGINEERING RESULTING IN CHANGES TO MPE SYSTEMS AND MECHANICAL STRUCTURAL SUPPORT.
1111 NEW JERSEY AVE SE   
07/10/15 
NJA ASSOCIATES LLC /
P1507417 / SUPPLEMENTAL
   
07/16/15 
GALLERY CAPITAL PROP LLC GALLERY CAPITAL PROP LLC / DONALD LAYTON; GALLERY CAPITAL GALLERY CAPITAL PROP LLC; TOM MCGUIRE
E77440335 / SUPPLEMENTAL
1500 SOUTH CAPITOL ST SE   
07/10/15 
TAYLOR SWIFT CONCERT TOUR / JEWEL HANSON
TN1500150 / CONSTRUCTION
SPECIAL EVENT TAYLOR SWIFR CONCERT TOUR 1 MAIN STAGE 180W X 75OH X 60 D ASSEMBLE FRONT OF HOUSE PLATFORM 20'W X 9 H X 17'D ASSEMBLE 2 DELAY TOWERS 20W X 66'H X 24'D
   
07/11/15 
WASHINGTON NATIONALS / JOHN GALT; WASHINGTON NATIONALS; JAY LIVESAY
E53891753 / SUPPLEMENTAL
   
07/15/15 
NONE / JAMES W CONNER
E1507526 / SUPPLEMENTAL
   
07/23/15 
LERNER DC
B1510545 / CONSTRUCTION
REVISION TO PERMIT NUMBER #B1506810 TO ADD EXHAUST HOOD.
AH = After Hours; B = Alteration & Repair; D = Demolition; E = Electrical; FB = Boiler; M = Mechanical; P = Plumbing and Gas; PC = Post Card; R = Raze; SG = Sign; TL = Tenant Layout; TN = Tent; RW = Retaining Wall;

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