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A Douglas Development holding. Photo by Douglas Development.

WASHINGTON, DC—PTM Partners has taken an ownership stake in 1900 Half St., SW and it and Douglas Development Corp. plan to convert the 502,395-square foot office building into a 453-unit rental with 17,200 square feet of retail space. The development cost for the Buzzard Point project, which is located within a Qualified Opportunity Zone, will be $190 million.

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.

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