TIAA-CREF Buys The Louis at 14th/U

Last summer, the Chevy Chase-based JBG Companies hired ARA Mid-Atlantic to find buyers for the Louis at 14th/U, a residential and retail development located in the heart of the U Street Corridor - Logan Circle neighborhood. Now, the property has a new owner. TIAA-CREF purchased the Northwest Washington, D.C., property at the start of June, for an undisclosed price.

Last summer, the Chevy Chase-based JBG Cos. hired ARA Mid-Atlantic to find buyers for The Louis at 14th/U, a residential and retail development located in the heart of the U Street Corridor-Logan Circle neighborhood. Now the property has a new owner. TIAA-CREF purchased the Northwest Washington, D.C., property at the start of June for an undisclosed price.

The Louis at 14th/U is a nine-story building located at 1920 14th St., N.W. It was designed for young professionals who are seeking an exciting urban environment lifestyle, offering 268 studio, one- and two- bedroom luxury apartment units, and also features approximately 42,000 square feet of retail and commercial space and a 152-space below-grade parking garage. The 269,000-square-foot building also features numerous upscale amenities, including a unique rooftop terrace with grilling stations, fire pits, an outdoor movie theater and pool, a state-of-the-art resident’s lounge with adjacent kitchen and bar area, a fitness center with yoga room, a business center and a 24-hour concierge.

A Trader Joe’s anchors the retail portion of the development. The popular grocery chain opened earlier this year, on March 21.

“JBG is very proud of this mixed-use development and believes it represents the company’s strength in creating great places that are a good fit for the community,” Edward Chaglassian, a JBG principal, said in a statement.

The Louis at 14th/U was named after King Louis XIV of France, also known as the Sun King, but also after Louis Armstrong. It was designed by Eric Colbert & Associates. Balfour Beatty Construction was the general contractor and Cecconi Simone was the interior designer. Work on the project started in spring 2012. The Louis at 14th/U was finished last December.

Photo credit: www.thelouisdc.com