D.C. private equity firm Capitol Meridian Partners plans to deploy the majority of its just-closed $1.9 billion fund to Greater Washington companies serving the national security, defense and commercial aviation sectors.
… the company plans to cut about 10 checks that’ll range between $50 million and $400 million in the coming years.
The geographic impact of Fund II is also expected to focus heavily on Greater Washington. Six of the 10 portfolio companies the firm backed with the first fund are headquartered in the region, including local founder-owned firms Altumint Inc., Parry Labs, Clarity Innovations, TechnoMile and Westway — the latter of which saw the closing out of Fund I and the first tranche of investment from Fund II.
NASA has signaled plans to keep its headquarters in D.C. after launching a regional search for a new office last year.
The spacefaring agency is seeking proposals to lease or buy an office building ahead of its August 2028 lease expiration at its longtime headquarters at 300 E St. SW, known as Two Independence Square.
The new building must have at least 225,000 square feet, half the size of its existing 450,000-square-foot space on E Street.
“The World Cup probably threw a lifeline to a lot of businesses in D.C.,” Tin Shop co-founder Peter Bayne tells Axios.
Whitlow’s saw business jump 300% on championship Sunday compared to their usual numbers. Tournament sales climbed 16% year over year on U Street and 12% at the Wharf.
Early data from developer Edens shows La Cosecha saw 54% higher sales and 82% more foot traffic during the tournament than on comparable non-game days.
A new five-story mixed-use building is headed to Anacostia’s Martin Luther King Jr. Avenue corridor, with the developer proposing to convert a long-vacant, century-old commercial building into part of a larger residential project.
Eustilus Architecture designed the project, which calls for 14 family-sized units (eight two-bedrooms and six three-bedrooms) above a ground floor with two retail spaces. Half of the units would be set aside as affordable housing, and the roughly 900 square feet of retail space would be prioritized for Ward 8 small businesses or organizations.
The project goes before the Historic Preservation Review Board for conceptual design review today.
Placemakr Inc., which operates blocks of furnished units in apartment buildings, has inked a $292 million deal with the National Guard Bureau to supply as many as 2,000 units for troops mobilized as part of Joint Task Force – District of Columbia, the bureau announced Thursday. The contract, per the bureau, is the largest interagency lodging acquisition in National Guard history. It works out to $146,000 per unit.
Per the National Guard, the apartment-style accommodations provide deployed personnel with more stable living conditions, improved privacy and access to secure parking and support services, while the contract “will also return a significant number of commercial hotel rooms to the local market, increasing capacity for tourism and business travel during the region’s peak travel season.”
The company’s local properties include 2500 Pennsylvania Ave. NW, 41 L St. SE, 15 Dupont Circle NW, 101 V St. SW and 1008 N. Glebe Road in Arlington.