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WASHINGTON, DC METRO-New York, NY-based UrbanAmerica LP makes headway in expanding its presence in the DC region with the acquisition of two properties for $4 million. The first commercial real estate investment firm to focus its efforts solely on low-income and moderate-income areas, UrbanAmerica added a total of approximately 22,000 sf to its portfolio through the deal, bringing its total commercial holdings in Metropolitan Washington, DC to 550,000 sf.

The fully occupied properties are Oxon Hill, MD’s 16,155-sf Eastover Plaza, and the 6,116-sf J Walker Shopping Center in the District. While the two diminutive retail centers may seem like unsubstantial additions to the company’s portfolio, they have alternate value for UrbanAmerica.

“The purchase of these properties, although small at a total of just under $4 million was strategic in nature given that both properties are connected to our supermarket anchored centers, Eastover Shopping Center and the East River Shopping Center,” says UrbanAmerica president and CEO Richmond S. McCoy.

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