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Kettler in the News

November 13, 2014

KETTLER Announces the Sale of 450 K Street to Ogden CAP PROPERTIES, LLC

November 13, 2014

McLean, VA. November 13, 2014 - Kettler, one of the region’s top multifamily developers, announced today the sale of its newly constructed residential development, 450 K Street, NW, to Ogden CAP Properties, LLC for $106.5M. The sale brokered by HFF (Holliday Fenoglio Fowler, L.P.) marks the completion of the building’s 24-month construction period.

“Working with Ogden on this transaction was a great opportunity for our organization and we look forward to watching the success of this project,” said Asheel Shah, senior vice president of real estate investments for Kettler. “450 K Street is a milestone project for Kettler and we’re excited to deliver a dynamic residential product in a true mixed-used neighborhood that has so much burgeoning demand and potential.”

450 K Street, located in the heart of the historic Mount Vernon Triangle, consists of 233 luxury apartment units and 6,500 SF of ground floor retail space. The 13-story high-rise building offers well designed living spaces including studio, one- and two-bedroom apartment homes featuring wood flooring, quartz countertops, stainless steel appliances, designer baths and great views of Downtown D.C. Resident amenities include a meditative courtyard with fountain, fitness center, ride-in bike storage and maintenance shop, as well as rooftop level amenities including a club lounge and entertainment bar, swimming pool with lounge seating, outdoor kitchen and barbeque grills. The building is also smoke-free and is anticipated to receive LEED® Silver certification.

“We are thrilled to own this wonderful property which we feel encompasses the best in design and construction in the Washington, DC residential market,” noted Abby Elbaum, one of Ogden’s principals. “This marks our entry into the multi-family segment here, and we look forward to working with Kettler to establish 450k as a preeminent rental building in the District.”

Ogden CAP Properties has retained Kettler Management to manage the leasing activity at the property. For more information and to schedule a tour, contact the leasing office at (202) 289-5609 or visit www.450k.com.

About Kettler

Founded in 1977, Kettler develops apartments, condominiums, and mixed-use projects in the D.C. metropolitan area. Headquartered in McLean, VA., Kettler has developed more than 21,000 multifamily units, 5 million square feet of commercial space, more than 46,000 homes in 25 master-planned communities and many of the region’s premier mixed-use communities. Kettler Management successfully manages more than 24,000 apartments for Kettler and third party clients from New York to North Carolina and offers a full range of services to corporate and institutional real estate owners. For more information, visit www.kettler.com.

About Ogden CAP Properties, LLC

Ogden CAP Properties, LLC owns and manages residential, office and retail properties in New York City, as well as the historic Jefferson Hotel in Washington, D.C. The portfolio in New York City consists of 3,500 apartments and close to 1 million square feet of office and retail space. Ogden’s Class A properties are located in Manhattan’s most coveted neighborhoods including the Upper East and Upper West Sides and Murray Hill. The Jefferson Hotel, which Ogden transformed into Washington’s best small luxury hotel, is a 2014 winner of Travel + Leisure’s World’s Best Awards for Top Small City Hotels and Plume, its restaurant, is the only Forbes five-star restaurant in Washington. For more information, visit www.ogdencapproperties.com and www.jeffersondc.com.