Georgetown Suites on the Market Again

Varsity Investment Group bought the former hotel consisting of two buildings, at 1111 30th St. NW and 1000 29th St. NW, for $33.5 million in late 2020 and have since renamed it the Oxford at Georgetown.

According to Washington Business Journal, Rawles Wilcox, Ryan Ogde, and Jared Emery with Edge Multifamily Capital Markets have been retained to market the properties, with an asking price of about $72 million to $73 million — $50 million to sell the 29th Street property and $22 million to $23 million for the leasehold interest on the 30th Street property, on which 33 years remains.

The conversion of the seven-story buildings to apartments is expected to be complete this summer, according to information from Edge.