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On December 1, 2005, M & J Wilkow closed the sale of the 2121 K Street, NW office building in Washington, D.C. The Property is an 8-story, 133,025 square foot office building located in Washington’s Golden Triangle. Following the acquisition of the property in July 2004, Ownership acquired a Transferable Development Right which gave it the right to extend the height of the building by three floors, thereby expanding the rentable area of the property by 52,000 square feet. In order to maximize value, M & J Wilkow recommended tying the expansion of the property to a comprehensive redevelopment project, the objective of which was to reposition the asset from a tired “Class B” office building to an attractive, institutional quality “Class A” office building. The recommendation was accepted by Ownership and construction drawings were prepared by WDG Architecture covering the  installation of a new façade and HVAC systems; the renovation of the lobby, restrooms, health club facility and common areas; and the modernization of the existing elevators. As the pre-construction period came to an end, Ownership received and elected to accept an offer from a third party to buy the building, including all developmental rights and plans.