PRP’s Thematic Special Situations investment vertical acquires a Class A+ boutique office tower three blocks from the White House, with a rare 50,000-square-foot contiguous block positioned to capture the District’s flight to quality
WASHINGTON — August 5, 2026 — PRP Real Assets, the Washington, D.C.–based real estate investment management firm, announces its acquisition of 900 19th Street NW, a 116,385-square-foot Class A+ office tower in the heart of Washington, D.C.’s Central Business District.
Positioned on the corner of 19th and Eye Streets between K Street and Pennsylvania Avenue, the corner building sits three blocks west of the White House and steps from the Farragut West Metro station, and within walking distance of the World Bank and International Monetary Fund headquarters.
“900 19th Street is exactly the kind of asset we look for in the current market, an institutionally repositioned building in the most durable corridor in the District, acquired at a basis that cannot be replicated through new construction,” said Jon McAvoy, Chief Investment Officer of PRP Real Assets. “Along with a few remaining facets of the project to be upgraded, the PRP Property Management team will be integrating our brand standards focused on customer service as we lease-up the remaining vacancy. The demand profile in this submarket gives us a clear executable path to accomplishing our objectives.”
The previous owner completed a comprehensive base-building and aesthetic redevelopment of the property, encompassing a full-height glass curtain wall replacement, lobby reconstruction, elevator modernization, addition of a fitness center with locker rooms, a tenant lounge and conference facility, and a rooftop terrace.
Upon closing approximately 50,000 square feet will be available, creating a rare contiguous block of Class A+ space within the CBD. Since 2020, Trophy and Class A+ buildings have represented roughly 24% of the District’s office inventory while capturing over half of the relocation demand in the market.
“The vacancy is the opportunity,” said Tom Wasko, Director of Special Situations at PRP Real Assets. “There are many tenants in the market looking for quality space with dedicated ownership in this central location. Tenant migration in the city continues to move west and we are well positioned to capture it. Going forward we hope to find similar lease-up opportunities in our target markets.”
ABOUT PRP REAL ASSETS
PRP Real Assets is a national real estate investment management and development firm with a focus on three key verticals: Mission Critical Assets, Multifamily, and Thematic Special Situation Investments. Since its inception in 2005, the company has acquired more than $6 billion in real estate investments on behalf of institutional investors, family offices, and financial institutions. PRP Real Assets is vertically integrated, with in-house expertise in investment management, development, construction, property management, and asset management. The Thematic Special Situations investment vertical acquires assets with distressed capital structures across all product types. For more information, visit www.prpra.com.