Location/Year Georgetown Washington, D.C. Est. 2013 Size 325,000 square feet
The WestMill Capital team, with Western Development Corporation (“WDC”), led the work-out and re-positioning of Georgetown Park, a landmark 325,000 square foot retail project in the heart of Georgetown, Washington, D.C.
Working with WDC, WestMill attracted +$60 million in new capital to acquire the property and positioned WDC as the project’s co-developer. WestMill was instrumental in the initial plans to de-mall the antiquated 3-level mall, adding nearly 100,000 square feet of net leasable area, reducing the number of mall tenants and changing the mix to large-format investment grade tenants, thereby drastically simplifying the project execution.
Through WestMill and WDC’s joint efforts, Georgetown Park has a new committed ownership team and is on the path to a successful revitalization with strong economic returns and long-awaited neighborhood benefits.