JLL Capital Markets announced that it closed on the sale of The Shay, a 245-unit, best-in-class multihousing community located in the highly sought-after Shaw neighborhood of Washington, D.C.
JLL represented the seller in the transaction.
Built in 2015, The Shay features studio, one- and two-bedroom units with floor-to-ceiling windows, nine-foot ceilings, stainless steel smart appliances, custom cabinetry and quartz countertops. Community amenities include a heated pool with sundeck, two landscaped rooftop decks with seating and grills, catering kitchen and dining area and a fitness center.
Situated at 1924 8th St. NW, the property is located at the confluence of Shaw and the U Street Corridor at the intersection of 8th Street and Florida Avenue. The Shay is just three blocks from the Shaw-Howard University and U Street Metro Stations. Residents benefit from premier walkability to all area amenities, as well as several grocers. Additionally, it is within one mile from over 100 million square feet of downtown office space and 2.5 million square feet of retail, which includes the top restaurants, bars and entertainment venues.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Robert Jenkins and Bret Thompson.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
