WASHINGTON, DC—Farmington Hills, MI-based BeztakProperties has acquired a string of retail properties onColumbia Road for $14.2 million and is considering developingmixed-use there.
The firm acquired 1767, 1773, 1775 and 1777 Columbia Road, whichis across the street from a site it had partnered with FriedmanCapital Advisors LLC to turn the First Church of Christ,Scientist into a luxury hotel. However, New YorkCity-based Sydell Group Ltd. is now leading agroup of investors on that project.
"We think the Adams Morgan market is a great market, and wethink there's big potential in redeveloping the properties intomixed-use," says Beztak Principal Sam Beznossaid.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
