CYwP Fund I portfolio company UberOffices has a new investor – MRP, a rapidly growing developer of offices and multifamily housing. The two firms are jointly buying a 32,000-square-foot building at 1509 16th Street in Washington, D.C., a block from Logan Circle’s Whole Foods.
UberOffices currently has 87,000-square-feet in four buildings in the Washington, D.C. metropolitan area and will soon be signing leases that will bring that number to 212,000-square-feet. MRP’s investment, along with CYwP Fund I’s previous investment, will help fund UberOffices’ expansion into Philadelphia and Chicago.
For more information, see https://www.bisnow.com/archives/newsletter/washington-dc/4390-bisnow-confidential-mrps-stunning-new-business/.