A joint venture between Jair Lynch Real Estate Partners and Artemis Real Estate Partners bought the 150-unit Takoma Central mixed-use building in Washington, DC, for $50.6m. The sellers were Federal Capital Partners and Level 2. Located adjacent to the Takoma metrorail station, the LEED-certified property was 91 percent leased in July with monthly rents averaging $2,154. Totaling 9,000 sq ft of retail space, the building currently houses a restaurant, yoga studio and an arts-and-crafts business. The project was the first new ground-up development to be delivered in the historic Takoma neighborhood in four years.
