WASHINGTON, DC-New York City-based Rockrose DevelopmentCorp. is under contract to buy 1900 M St.NW, for approximately $55 million. Theseller, Ralph Dweck, was represented byGerald P. Trainor ofTranswestern. Craig Deitelzweig,head of Rockrose’s office division, represented Rockrosein-house.
This is Rockrose’s third acquisition in the city. The companyhas been acquiring a building in the DC market about every sixmonths now, Deitelzweig tells GlobeSt.com—and it intends tocontinue.
“We like DC and we plan on acquiring more properties,” he says,explaining that the sweet spot for this market are value-add playslocated in the CBD and East End. Previous purchases include1150 18th St. and 1776 Eye St.,which was also sold by Dweck.
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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.
