July 21, 2017 Comments Off on Former Founders of First Potomac Acquire First DC Asset Views: 863 National News, Northeast

Former Founders of First Potomac Acquire First DC Asset

Washington, DC-based DSC Partners (DSC), in a joint venture with a domestic investment fund, acquired 77 Upper Rock in Rockville, MD for $19.5 million from The JBG Companies. It is DSC’s first acquisition in the Washington, D.C. market.

77 Upper Rock is an eight-story Class A 232,282-square-foot office building located in the new Upper Rock district. The LEED Silver building was built in 2005 and is currently vacant. DSC Partners plans a base building renovation to add best-in-class fitness facilities, conference rooms, tenant common areas, green space and amenities.

Douglas Donatelli and Nicholas Smith, the co-founders of First Potomac Realty Trust, recently formed DSC to focus on value-add and Class A property acquisitions across the Washington metropolitan area.

NKF’s Jud Ryan and James Cassidy represented the seller, while the buyers were self-represented.

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