Washington, DC

A Treasury Department hearing this week could answer lingering questions that investors have.

The deal marks the 14th hotel property sold by the McLean, VA-based REIT in the past year as part of its ongoing program of recycling non-core assets.

The acquisition by Comstock will add 1.1 million square feet of additional density to its own portfolio.

The Washington, DC-based real estate firm also announced its first tenants at the multi-building property including a deal with restaurant Texas Roadhouse and Sheetz, a convenience store and gasoline station, and a 20,000-square-foot health club.

His new role is part of the company's strategic shift to a broader approach in delivering services.

Among some of the other major retail tenants at the development include Whole Foods Market, which will be opening a 69,000-square-foot location at the property. The location will be its largest in the DC Metro.

The expansion of the existing P3 between Howard University and Corvias increases the scope of the arrangement to 3,009 beds, $144 million in capital raised, a total of $1.7 billion in total economic impact and $39.5 million in debt defeasance.

Rents may increase when properties are “substantially improved” to meet OZ conditions in already rent burdened areas.