Monday Properties, a leading national real estate investment firm, announced today its acquisition of Beauregard Office Park, a 300,000 square foot five building office park in Alexandria, Virginia. In addition to its equity investment, Monday Properties will provide the joint venture with management, construction and leasing services.
Over the next year, Monday Properties will complete extensive enhancements to the portfolio including upgrades to the on-site amenities, common areas and landscaping. With these improvements the assets will offer tenants and visitors high quality conference, fitness, concierge and food service amenities, providing a productive and efficient work environment.
“Monday Properties sees tremendous opportunity in Beauregard Office Park and is excited to upgrade the property to amplify the tenant experience,” said Anthony Westreich, Founding Managing Partner for Monday Properties. “The acquisition will further strengthen Monday’s strategic thesis in finding unparalleled investments for our investors.”
The acquisition includes 1500, 1600, 1800 1900 and 2000 North Beauregard Street. Just north of I-395, the property is proximate to shopping centers, hotels, and restaurants – which can be easily accessed by walking or using public transportation. Existing tenants at Beauregard Office Park, include Inova Health System, Virginia Hospital Center, City of Alexandria and DXC Technologies (formerly HP Enterprises).
“The decision to acquire Beauregard Office Park is consistent with our investment philosophy and desire to expand our property holdings in the greater Washington, D.C. market,” said Tim Helmig, Managing Partner at Monday Properties. “Monday’s mission continues to be focused on identifying unique investment opportunities, deploying capital wisely and providing exceptional environments for our current and future tenants.”
This announcement follows recent news that Monday Properties successfully completed an $888 million refinancing of its Rosslyn, Virginia real estate portfolio, comprised of nine premier buildings. The acquisition of Beauregard is emblematic of how Monday Properties continues to seek attractive investments into existing and to be developed projects on behalf of its investors. Monday is focused on creating and enhancing commercial and residential properties that provide users with amenity rich environments in major gateway markets throughout the United States.
Participants: Timothy Helmig and Robert Klein represented Monday Properties.
About Monday Properties: Monday Properties is a dynamic real estate investment firm that operates each property within its portfolio. Founded in 1998, the company is an owner, operator and developer of real estate with a primary focus on supply constrained markets and value add real estate opportunities in growth markets. Since 2002, Monday Properties has completed over $12 billion in over 50 separate transactions, representing 27 million square feet. Monday Properties co-invests its own capital alongside its partners and investors, creating a clear alignment of interest and an incentive to realize value.
