It is also under contract to sell its 316 room Marriott Hotel in Fairfax, VA for $42 million.

“The big increase in multifamily starts in 2015 and 2016 is finally filtering through to the marketplace on a broad basis,” says Mark Obrinsky with the National Multifamily Housing Council.

“We wanted to do a deep dive for CRE but the data was too thin; there were not enough respondents.”

555 De Haro has exposed wood beams, open floorplans and overall character, so the renovation effort kept those features intact while modernizing systems in order to appeal to creative workspace users.