WASHINGTON, DC-In a $16-million transaction, The Bernstein Companies has purchased 1000 Vermont Ave. through its $100-million Consortium Capital equity fund. Cornerstone Real Estate Advisors was the seller of the 80,000-sf structure.

“1000 Vermont is strategically located at the corner of Vermont and K Street on McPherson Square, placing it squarely in the heart of Washington’s new downtown,” Bernstein President Adam K. Bernstein says in a statement. “We remain bullish on the future potential of the K Street office and retail Corridor.”

This consortium fund is Bernstein’s second. Consortium One launched four years ago with $30 million of equity. The fund is now fully invested. Consortium Two now has three Downtown Washington, DC buildings, as well as one building in Richmond, VA and another in Philadelphia.

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