Please join us for our next big Bisnow Breakfast & Schmooze: "State of Tech in the I-270 Corridor," June 1, starring Maryland Gov. Martin O'Malley, Univ. of Maryland president Dan Mote, legendary former Lockheed Martin CEO Norm Augustine, former Medimmune CEO David Mott, and Telogy founder and Novak Biddle partner Tom Scholl. Early bird prices: Sign up now!

Okay, maybe two building purchases on Eye Street in half a year does not a pattern make. But, under our First Amendment liberties, it does make a headline. And HSBC Alternative Investments Ltd, which invests for overseas private banking clients, does seems to have a thing for that street in downtown DC.

This morning we snapped this of 1350 I Street, a 380k SF law firm-heavy trophy (Beveridge & Diamond, Hollingsworth) that HSBC is picking up from Beacon Capital Partners for $209M.

This follows HSBC's purchase of 1625 I Street late last year from Brookfield. The price of 1350 comes out to $550/ft and of 1625 more like $587; though both are fully leased, apparently rents are lower in the former. We also took this shot this morning, so it's a two-fer: You can be reassured BLT is still there.

THREE YEARS LATER     

Yesterday afternoon our camera had a big enough lens to capture Magic Johnson at the Washington Hilton. He was on hand to unveil the $150 million restoration announced this time in 2007 by Lowe Enterprises and Canyon-Johnson Urban Funds (a joint venture of Magic and Canyon Capital Realty Advisors), which acquired the property back then for $290 million. 1070 guest rooms were remodeled on a staggered schedule so the hotel could remain open, plus a new 30k SF multi-purpose conference center and rejuvenated 36k SF main ballroom. Magic pointed out the project created 850 construction jobs in a down economy and delivered on time. He also emphasizes he "believes in DC," citing as evidence that he owns 10 Starbucks here.

Magic somewhat overshadowing, figuratively and literally, Prudential Mortgage Capital Co president David Twardock, Canyon Johnson asset management head Daniel Millman, Mayor Fenty, Hilton GM Steve Cowan, Lowe Enterprises chief investment officer Mike Lowe, and Hilton SVP for Americas development Bill Fortier.

We snapped this of Hilton CEO Chris Nassetta at a Post luncheon last week. Hilton repotted itself from Beverly Hills to McLean last August, a return to the area for Chris, who joined thye company in late 2007 from Host Hotels and had grown up in Arlington. Hilton's got over 3600 properties in 81 countries carrying its brand (also including Embassy Suites, Hampton Inn, and Waldorf Astoria) via frachises, jv's, owned, or managed arrangements.

NEXT GEN

Despite the obvious dangers to impressionable young people, Pillsbury real estate leader Wendy White brought her daughter, Annie Feinberg, a rising sophomore at Duke, to a Washington Economic Club dinner last week, where we took this photo. Annie's currently leaning toward majoring in cultural anthropology, which might be helpful one day if she ever needs to understand the mysterious tribal customs of commercial real estate. The family's en route to its "seventh or eighth" dude ranch vacation, this one in Colorado, then Annie will spend the summer as a riding counselor at a camp in Maine she resourcefully found on the Internet. Meanwhile her mom's actively working on several transactions, a nice change of pace she says that 2010 has brought.

RECIPROCITY

We're putting these folks in our Hall of Fame because they put us in theirs. Yes, you read that right: Your publisher was inducted Monday night into the American Marketing Association DC Chapter Hall of Fame, cited for pioneering efforts in digital journalism, like the newsletter you're reading right now! Of course your publisher feels he didn't deserve it, but taking a leaf from what President Obama said about his Nobel, we're going to accept it anyway on behalf of digital journalists everywhere!  (And before they do a recount.) From left, AMA-DC presidents-elect Mike Gardner and Christie Susko with current president Brendan Hurley.