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Article: Monument Realty's Potomac Place Tower Gets a Fresh Start.
- Article from:
- Real Estate Weekly News
- Article date:
- September 11, 2009
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Monument Realty announced that it is moving forward with the renovation of Potomac Place Tower, a 396-unit condominium located at 800 4th Street in Southwest Washington, D.C. The condominium project was stalled when the senior lender, Lehman Brothers Holdings Inc., filed for bankruptcy in September 2008. Since that time Monument Realty has worked closely with a new lender to sort through a very unusual set of circumstances and to ensure that construction would be completed and sales contracts would be honored.
Monument Realty acquired the Potomac Place project in 2001 and in 2005 completed construction of a new, 302-unit condominium adjacent to the existing ...