Bisnow Scoop: UIP Sells Another
It's been a busy few weeks for Urban Investment Partners. We told you yesterday about a property the firm just sold in Kalorama, but we've also learned it recently sold the Macklin apartments at the corner of Connecticut Avenue and Newark Street in Cleveland Park (pictured) to an undisclosed buyer. CBRE's Bobby Meehling repped UIP in both deals and tells us the firm also sold a retail complex next door to the apartments to the same buyer. (Always best to keep families together.) The total sale price was just north of $12M, Bobby says, and the purchase was part of a 1031 exchange for the buyer; he was joined by colleagues Mike Muldowney and Jonathan Greenberg in the deals.