Nursing Facility Sells For $79M: The D.C. Deal Sheet
A skilled nursing facility near the southern tip of D.C. that provides rehabilitation and long-term care services has traded hands.
BridgePoint Healthcare sold its facility at 4601 Martin Luther King Jr. Ave. SW for $79M to Hill Valley Healthcare, according to D.C. deed records. The property is in the Bellevue neighborhood, near Joint Base Anacostia-Bolling.
Records show Hill Valley obtained a $53.7M loan from Deutsche Bank for the acquisition.
BridgePoint and Hill Valley didn't respond to requests for comment.
The property last sold in 2014 for $8.5M to Silver Point Capital L.P. The Connecticut-based hedge fund acquired it as part of a portfolio from a former operator that went bankrupt and then renamed the portfolio BridgePoint Healthcare, the Washington Business Journal reported in 2018.
BridgePoint filed an application in 2018 for a $5.3M expansion that would add 32 beds to the D.C. facility, WBJ reported at the time. BridgePoint has another location in Capitol Hill and one in New Orleans.
LEASES
Defense tech company Grvty is opening a 22K SF headquarters in Tysons. The year-old company is building out space at Nuveen’s 8270 Greensboro Drive, with a plan to invest $8M and hire 200 employees. Grvty and Fairfax County’s Economic Development Authority announced the deal in separate releases this week. The FCEDA said Virginia Gov. Abigail Spanberger had approved an $800K grant from the state’s opportunity fund for the project and that the Virginia Jobs Investment Program would provide funding and services for the company’s recruitment and training.
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Compass Real Estate is moving its D.C. office a few blocks. The company signed a 10-year lease for 11K SF at Akelius’ 1401 Massachusetts Ave. NW near Thomas Circle, according to Transwestern, which represented the landlord. The new office is located within the converted 1950s-era annex behind National City Christian Church. The company is currently located at 1313 14th St., where it has 13K SF, WBJ reported. Transwestern’s Scott Fetterolf and Tom Hilley represented Transwestern, and Savills’ Josh Meltzer and Wendy Feldman Block represented Compass.
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Engineering and technology contractor Amentum is moving its global headquarters from Chantilly to Comstock’s Reston Station, the tenant announced. Amentum signed a 45K SF lease at 1900 Reston Metro Plaza, a 365K SF office tower that also houses Google. Its headquarters is currently at 4800 Westfield Blvd., owned by The RMR Group. The move is expected in early 2027.
SALES
In its year-end earnings report this week, JBG Smith revealed it sold an office property in Crystal City that it had entitled for a 345-room hotel conversion. JBG said it received $8M for 2100 Crystal Drive, a property it had previously disclosed was under contract.
Virginia property records show the buyer is Dauntless Capital Partners. A few years ago, the Houston-based investment firm purchased a Crystal City Marriott owned by JBG. It is also involved in plans to turn a D.C. office building near Judiciary Square into a 122-room hotel. JBG itself plans to turn the office building at 2200 Crystal Drive into apartments.
PERSONNEL
Rappaport announced it hired Lindsey St. Maxens as director of leasing and brokerage. St. Maxens comes from KLNB, where she served as vice president of retail brokerage for more than six years, according to her LinkedIn profile. Prior to that, she was a leasing associate at JBG Smith. Rappaport’s release says her brokerage experience “spans grocery-anchored and neighborhood shopping centers, urban retail, developments, and mixed-use properties.”
