WASHINGTON, DC—Rubenstein Partners, a Philadelphia-headquartered company, has hired Mike Daugard, an executive from Washington Real Investment Trust, to source and execute investments in the DC area.
Daugard, who will work alongside regional director Steve Evans in the company's DC office, spent the majority of his career at Washington Real Estate Investment Trust, most recently as director of Acquisitions and Portfolio Management.
Daugard joins after Rubenstein Partners has made a handful of significant investments in the DC area in recent months. Last month the company acquired 2461 Eisenhower Ave., 360,000-square foot, mixed-use office and retail property in Alexandria, Va., and a nearby retail development pad.
The office building is currently gutted, and the new owners plan to renovate the shell into a class A property. Both the pad site and office building are located across the street from the National Science Foundation's new 720,000-square-foot headquarters, within the 56-acre Hoffman Town Center.
In July Rubenstein Partners and Griffith Properties acquired 1550 Westbranch Dr., a six-story, 152,000-square foot soon-to-be-vacated office building in Tysons, Va., for $27.75 million.
Another example of the company's local area activity: Affiliates of Rubenstein Partners sold Lee's Hill II, a 152,000 square foot office building in Fredericksburg, Va., earlier this year.
GlobeSt.com will be speaking with Daugard shortly so stay tuned for updates to this story.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
