Since January, 2003
            
 Sliding from Before to After

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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1100 2ND PL SE   
04/10/19 
SQUARE 769N OWNER LLC / FRANK CAVANAGH; X
SG1900275 / CONSTRUCTION
Install one building sign
1331 4TH ST SE CU   
04/01/19 
FC 1331 LLC / null
P1905037 / SUPPLEMENTAL
1000 5TH ST SE   
04/09/19 
UNITED STATES OF AMERICA / TANYA HILL
B1906864 / CONSTRUCTION
***DGS REPLACEMENT OF EXISTING SINKS WITH NEW SINKS AND CABINETS AT THE DAYCARE SPACES. REVISION OF EXISTING WATER SUPPLY AND WASTE PIPES FOR NEW SINKS.
   
04/13/19 
UNITED STATES OF AMERICA / null
E1906382 / SUPPLEMENTAL
   
04/17/19 
UNITED STATES OF AMERICA / FRANKLIN T GAINES
P1905523 / SUPPLEMENTAL
1003 5TH ST SE   
04/19/19 
MICHIKO BONAWITZ / DOUGLAS IAN BONAWITZ
F1900293 / CONSTRUCTION
Put in an iron fence 3feet high and gate by R & F Metals.
150 I ST SE BASE   
04/09/19 
null
E1906206 / SUPPLEMENTAL
150 I ST SE   
04/01/19 
PEPCO UTILITY WORK / MIKE BOONE
AH1900707 / CONSTRUCTION
PEPCO-WR#3518247-ALLEN / POWER COMM-CREWS TO INSTALL TRANSFORMER / CABLE MON-SAT.
250 M ST SE   
04/15/19 
SQUARE 769 LLC / STEVEN CHEN
AH1900779 / CONSTRUCTION
Work Onsite Only - Emancipation Day
   
04/18/19 
BAKER DC LLC / CHRISTINE LONG
TC1900019 / CONSTRUCTION
Permit for Baker DC LLC to temp erect tower crane on private property
300 M ST SE   
04/01/19 
FEDERAL CENTER, LP / SAM HOLLEN
B1907517 / CONSTRUCTION
INTERIOR RENOVATION TO 2ND FLOOR OFFICE SPACE.  PARTITIONS, FURNITURE, MECHANICAL, ELECTRICAL AND LIFE SAFETY.  980 SQUARE FEET. ICI SERVICES
   
04/02/19 
FEDERAL CENTER, LP / SAM HOLLEN
B1907519 / CONSTRUCTION
INTERIOR RENOVATION TO 8TH FLOOR OFFICE SPACE.  PARTITIONS, FURNITURE, MEP AND LIFE SAFETY.  990 SQUARE FEET. ICI SERVICES
880 NEW JERSEY AVE SE   
04/19/19 
880 NEW JERSEY AVE LLC / JAMES W LASHER
E1906502 / SUPPLEMENTAL
1200 NEW JERSEY AVE SE   
04/15/19 
EARL MITCHELL / null
E1906389 / SUPPLEMENTAL
1100 NEW JERSEY AVE SE   
04/09/19 
SQUARE 742 LLC / MICHAEL ZEARING
AN1900118 / CONSTRUCTION
Remove (3) (E) 2.5GHz RFS (APXVTM14-C-120) Panel Antennas with Associated Cabling Remove (3) (E) 2.5GHz Alcatel Lucent (TD-RRH8x20-2500) RRH's with associated cabling Contractor to verify existing mount and if necessary replace with 3.5" OD x 8' SCH. 40 Pipe per Sprint standards Install (3) (N) 2.5GHz Nokia Airscale MAA 64T64R 128AE B41 120 AAHC MIMO Antennas Install (3) (N) MIMO Mounting Br...
125 O ST SE   
04/18/19 
DISTRICT OF COLUMBIA / BILL SAUNDERS; TBD
B1908317 / CONSTRUCTION
ADD 1 RESERVE TANK TO CLEAN AGENT FIRE SYSTEM.
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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