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Office
Georgetown Plaza
Washington, DC
Funded
100% funded
...
Georgetown Plaza
Washington, DC
All Investments > Georgetown Plaza
...
Overview
Georgetown Plaza
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Details
For more information, view the Sponsor's Investment Memorandum.
Estimated Hold Period 3 years
Investment Strategy Value-Add
Investment Type Equity
Sponsor Documents
The offering documents above have been prepared and are being delivered by the Sponsor of this investment opportunity, and not by RM Securities, LLC. RM Securities, LLC and its associated persons did not assist in preparing, do not explicitly or implicitly adopt or endorse, and are not otherwise responsible for, the Sponsors offering documents posted below or any content therein.
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Management
For more information, view the Sponsor's Investment Memorandum.
JOSS Realty Partners

JOSS is a private owner/operator-focused real estate investment management firm headquartered in New York City. Since inception in 2005, JOSS has acquired 17 office assets totaling over 2.75 million square feet with a value in excess of $650 million. JOSS owns BMS Real Estate Services LLC, an affiliated property management company with over 1.2 million square feet of office under management.

JOSS was founded in 2005 by former SL Green, Fortress, and Broadway Partners executives with over 50 years combined experience encompassing real estate operating, financing, and public company expertise. JOSS has experience with fund management (PJSC-JOSS Real Estate Partners I, LLC) and owns a portfolio of office assets in prime CBD locations. JOSS utilizes a hands-on approach to property management, asset management, leasing and construction management.

Sample Holdings (Active and Realized)

Property Location SF Equity ($mm) Profile Status
1400 Eye Street Washington, DC 175,127 $19.1 Core-Plus Realized
300 7th Street Washington, DC 143,413 $11.0 Core Active
1129 20th Street Washington, DC 127,445 $14.3 Opportunistic Realized
1776 Massachusetts Avenue Washington, DC 92,924 $9.3 Core-Plus Realized
2131 K Street Washington, DC 87,924 $7.7 Core-Plus Realized
4201 Connecticut Avenue Washington, DC 71,821 $5.7 Value-Added Active
  Total - Washington, DC 698,654 $67.1    
           
Girard Square Philadelphia, PA 712,279 $24.5 Opportunistic Active
230 South Broad Street Philadelphia, PA 212,299 $4.6 Core-Plus Active
42 South 15th Street Philadelphia, PA 137,042 $2.6 Core-Plus Realized
9th & Samson (Sheridan) Philadelphia, PA 97,500 $2.5 Value-Added Active
  Total - Philadelphia, PA 1,159,120 $34.2    
           
229-239 West 29th Street New York, NY 153,913 $14.9 Value-Added Realized
60 Charles Lindbergh Boulevard Uniondale, NY 217,351 $10.3 Core Active
  Total - New York, NY 371,264 $25.2    
           
  Total - All Locations 2,229,038 $126.5    

Their wholly-owned property management affiliate, BMS Real Estate Services ("BMS"), manages a portfolio of 14 assets encompassing over 1.2 million square feet primarily in the Washington, DC metro area. BMS currently has 27 employees and includes property and construction management, with a vertically integrated platform with a strong focus on operations and value creation. 

Management Team
Management
Larry Botel - Founding Partner, JOSS Realty Partners

Mr. Botel co-founded JOSS Realty Partners in 2005. Since inception JOSS has acquired 17 office assets totaling over 2.75 million square feet with a value in excess of $650 million. Prior to JOSS, Mr. Botel spent three years as the Chief Operating Officer at Broadway Partners, where he oversaw all operations, staffing, asset management and underwriting activities. Mr. Botel directed Broadway from a sole proprietorship with limited operating capability to a full service real estate investment company owning 3.6 million square feet of commercial office space valued at over $850 million. He underwrote, negotiated and closed over $1 billion in office building acquisitions and recapitalizations, managed 1 million square feet of leasing and oversaw all property activities and capital projects. Mr. Botel launched and oversaw Broadway Real Estate Services, an affiliated property management firm. From 1997 to 1999 Mr. Botel was a Vice President and Head of Real Estate at Fortress Investment Group / UBS Global Principal Group / BlackRock Capital Finance. He oversaw all commercial real estate asset management and underwriting activities for multiple portfolios of debt and equity assets. Mr. Botel managed a team of five professionals in three opportunistic real estate investment funds totaling $3 billion in equity and over 30 transactions in the United States, Canada, and Europe. He underwrote, negotiated, and closed over $1 billion in property and mortgage loan acquisitions, over $500 million in distressed mortgage loan resolutions, and over $1 billion in portfolio financings/securitizations. Mr. Botel also managed equity and loan portfolios comprising over 4 million square feet and 5,000 apartment units. Mr. Botel held previous positions at Mutual of New York Real Estate and Prudential Realty Group. Mr. Botel received his M.B.A. from the University of Chicago Graduate School of Business, in 1993 and B.S.B.A from Georgetown University in 1988.

Management
Ameet Amin - Principal, JOSS Realty Partners

Mr. Amin is a Principal at JOSS Realty Partners. As the Head of Acquisitions, Mr. Amin is responsible for the identification and evaluation of new opportunities. Since joining in 2006 he has been involved in over $1.0 billion of real estate transactions. Mr. Amin oversees the negotiation, underwriting and execution of principal investments and plays a central role in capital raising and executing joint ventures, recapitalizations, workouts and dispositions. Prior to joining JOSS, Mr. Amin served as Deputy to the Chief Operating Officer of U.S. Investment Banking where he helped formulate and implement a successful division wide growth and change management strategy. At Deutsche Bank Mr. Amin ran the strategic planning and financial planning processes, evaluated organic growth opportunities for the bank’s real estate platform and helped transform the division’s recruiting, retention and compensation practices. Prior joining Deutsche Bank in 2003, Mr. Amin was an investment banker in the Financial Institutions Mergers & Acquisitions groups at Lazard and Wasserstein Perella & Co where he was involved in over $10 billion of M&A transactions. Mr. Amin received his M.B.A from Columbia Business School and his B.B.A. from the University of Michigan Business School.

Management
Larry McCulley - Founding Partner, BMS Realty Services

A real estate professional with more than 30 years of experience in the Washington area, Larry McCulley oversees property management and construction management services for BMS Realty Services. Mr. McCulley is highly regarded in the region for his expertise in overseeing commercial properties with a focus on the owner’s perspective – streamlining operations, attracting and retaining tenants and enhancing long-term property value. Mr. McCulley manages BMS Realty’s property management teams, including staff focused on operations, maintenance, accounting, and financial reporting. His leadership has resulted in BMS Realty’s distinctive track record in serving building owners such as the National Football League Players Association for many years, as well as managing properties such as the landmark Washington Harbour long-term through multiple owners. Prior to establishing BMS Realty Services in 1999, Mr. McCulley worked with Jones Lang LaSalle, where he served as director of property management and managed more than 2.5 million square feet of space. Today, Mr. McCulley provides active, hands-on oversight of several commercial properties, providing day-to-day management, operations planning, long-term capital planning, implementation of sustainable practices and construction management/owner representation for tenant build-outs and renovations.

Property
For more information, view the Sponsor's Investment Memorandum.
Address: 2233 Wisconsin Avenue NW
Washington, DC 20016
Submarket: Uptown
Year Built / Renovated: 1964 / 2007
Floors: 5 (above grade)
Current Occupancy: 79%
Net Rentable Area: 150,097 square feet
Parking: 276 stalls (89 surface and 187 below grade spaces)
1.84 spaces per 1,000 square feet of rentable area
Potential Additional FAR: 59,000 square feet (residential only)
Typical Floor Plate: 28,600 square feet

Property Highlights

  • The building is configured with 28,600 square foot floor plates, which accommodates flexibility on multi-tenant layouts.
  • Floor configuration and four sides of glass maximizes corner units with views of National Cathedral, Rock Creek Park and the Washington Monument.
  • Four sides of glass provides for abundant light, a high proportion of windowed offices, and views over Washington, DC.
  • The property enjoys convenient access to the CBD, Georgetown, Suburban Maryland, and Northern Virginia. 
  • There are two entrances to the lobby via Wisconsin Avenue and the surface parking lot.
  • Building has above standard parking - 187 below grade and 89 surface spaces (1.8 per 1,000 sf). 
  • Over 20,000 square feet of retail space, and casual co-tenant eateries includes Einstein Bros. Bagels and Breadsoda. 
  • The building's Energy Star rating provides an attractive certification for tenants and lower utility costs. 
  • Residential repositioning opportunity with potential of adding up to 59,000 FAR square feet of density.

Major Tenants

​​Children's National Medical Center

  • Suite 317 - 17,165 square feet
  • Expiration: April 2018 / Occupied since 2008
  • The Mid-Atlantic Center for Children’s Health and the Environment (MACCHE) is one of ten pediatric environmental health specialty units in the US. Based at Children's National Medical Center, the Mid-Atlantic Center's services are available at no cost to those who live and work in Washington, DC, Maryland, Pennsylvania, Virginia, Delaware, and West Virginia. MACCHE, is dedicated to informing health professionals, parents, caregivers, and concerned citizens about children and their specific needs and risks associated with environmental health.

MedStar-Georgetown Medical Center

  • Suite 500 - 8,971 square feet
  • Expiration: July 2017 / Occupied since 2012
  • MedStar Georgetown's centers of excellence include neurosciences, transplant, cancer and gastroenterology. Along with Magnet nurses, internationally recognized physicians, advanced research and cutting-edge technologies, MedStar Georgetown's healthcare professionals have a reputation for medical excellence and leadership.

Maslow Media Group

  • ​Suite 400 - 8,412 square feet
  • Expiration: April 2018 / occupied since 2008
  • The Maslow Media Group (MMG) was founded in 1988 as the first full service Production Staffing, Crewing, Payroll, and Video Production Agency in the country. It was established by producer, Linda Maslow, who saw the need for a centralized resource to provide qualified production crews to the Television, Cable, and Multimedia industry with a quick turnaround. MMG is a 100% Small Woman-Owned Business with a WBE Certification and is headquartered in Washington, DC, providing services worldwide. MMG’s clientele includes Corporate Media Departments, Federal & Local Government Agencies, and the Broadcast, Cable and Multimedia industry.

Stacking Plan

An amenities map, sale and lease comparables, stacking plan, and lease expiration schedule are included as attachments below the map on the right hand side of this page.

Financials
For more information, view the Sponsor's Investment Memorandum.
Disclosures
RM Securities, LLC and its Affiliates Compensation

RM Securities, LLC, its registered representatives, affiliates, associated persons, and personnel of its affiliates who may also be associated with it, including our associated persons and personnel of our affiliates who are also be associated with RM Securities, LLC (it (“RM Securities,” “we,” “our,” or “us”) will receive fees, expense reimbursements, and other compensation (“Fees”) from the issuer of this investment offering, its sponsor, or an affiliate thereof (“Sponsor”), or otherwise in connection with Sponsor’s offering. The Fees paid to us are in addition to other fees you will pay to Sponsor or in connection with Sponsor’s investment offering. You will pay Fees to Sponsor, either directly or indirectly as an investor in the Sponsor’s offering. Sponsor will use the Fees you pay, as well as funds you invest in the relevant offering, to compensate us. The Fees paid to us will directly or indirectly be borne by you as the investor (typically, but not always, in the form of an expense of the Sponsor’s offering in which you invest) because such Fees will reduce the proceeds available for distribution to you and reduce the amount you earn over time.

For more information on the Fees paid to us, or any other Fees you will pay in connection with Sponsor’s offering, please carefully review the Sponsor’s Investment Documents. Please also carefully review RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

No Approval, Opinion or Representation, or Warranty by RM Securities, LLC

Sponsor has provided, approved, and is solely responsible in all aspects for the information on this webpage (“Page”), including Sponsor’s offering documentation, which may include without limitation the Private Placement Memorandum, Operating or Limited Partnership Agreement, Subscription Agreement, the Project Summary and all exhibits and other documents attached thereto or referenced therein (collectively, the “Investment Documents”). The Investment Documents linked on this page have been prepared and posted by Sponsor, and not by RM Securities. We did not assist in preparing, do not adopt or endorse, and we are not otherwise responsible for, the Sponsor’s Investment Documents. We make no representations or warranties as to the accuracy of information on this Page or in the Sponsor’s Investment Documents and we accept no liability therefor. No part of the information on this Page or in the Sponsor’s Investment Documents is intended to be binding on us.

Sponsor’s Information Qualified by Investment Documents

The information on this Page is qualified in its entirety by reference to the more complete information about the offering contained in the Sponsor’s Investment Documents. The information on this Page is not complete and subject to change at the Sponsor’s discretion at any time up to the closing date. The Sponsor’s Investment Documents and supplements thereto contain important information about the Sponsor’s offering including relevant investment objectives, the business plan, risks, charges, expenses, and other information, which you should consider carefully before investing. The information on this Page should not be used as a basis for an investor’s decision to invest.

Risk of Investment

This investment is speculative, highly illiquid, and involves substantial risk. There can be no assurances that all or any of Sponsor’s assumptions, expectations, estimates, goals, hypothetical illustrations, or other aspects of Sponsor’s business plans (“Assumptions”) will be true or that actual performance will bear any relation to Sponsor’s Assumptions, and no guarantee or representation is made that Sponsor’s Assumptions will be achieved. If Sponsor does not achieve its Assumptions, your investment could be materially and adversely affected. A loss of part or all of the principal value of your investment may occur. You should not invest unless you can readily bear the consequences of such loss. Sponsor’s Assumptions should not be relied upon as the primary basis for your decision to invest.

No Reliance on Forward-Looking Statements; Sponsor Assumptions

Sponsor is solely responsible for statements made concerning forward-looking statements and Assumptions, which apply only as of the date made, are preliminary and subject to change, and are expressly qualified in their entirety by the disclosures and cautionary statements included in Sponsor’s Investment Documents, which you should carefully review. Neither RM Securities nor Sponsor are obligated to update or revise such forward-looking statements or Assumptions to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Sponsor’s forward-looking statements and Assumptions are hypothetical, not based on actual investment achievements or events, and are presented solely for purposes of providing insight into the Sponsor’s investment objectives, detailing Sponsor’s anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of actual results; therefore, they are not a predictor, projection, or guarantee of future results. You should not rely on Sponsor’s forward-looking statements as a basis to invest.

Importantly, we do not adopt, endorse, or provide any assurance of returns or as to the accuracy or reasonableness of Sponsor’s Assumptions or forward-looking statements.

No Reliance on Past Performance

Any description of past performance is not a reliable indicator of future performance and should not be relied upon as the primary basis to invest.

Sponsor’s Use of Debt

A substantial portion of the total cost of the real estate asset acquired by the Sponsor with investor funds (“Property”) will be paid with borrowed funds, i.e., debt. Sponsor’s estimated rates and terms of the debt financing are subject to lender approval, and there is no assurance that the Sponsor will secure debt at the rates and terms presented on this Page or in the Sponsor’s Investment Documents, or at all. The use of borrowed money to acquire real estate is referred to as leveraging, which can amplify losses and could result in lender foreclosure. In addition, if the debt includes a variable (or “floating”) interest rate, the total amount of interest paid over the term of the debt will fluctuate and can increase. As a result, Sponsor’s use of debt can result in a loss of some or all of your investment.

Sponsor’s Offering is Not Registered

Sponsor’s securities offering will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon the exemptions from registration pursuant to Rule 506(c) of Regulation D as promulgated under the Securities Act (“Private Placement”). In addition, the offering will not be registered under any state securities laws in reliance on exemptions from state registration. Such securities (your ownership interests) are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under applicable state and federal securities laws pursuant to registration or an available exemption. All Private Placements on the Platform are intended solely for “Accredited Investors,” as that term is defined in Rule 501(a) under the Securities Act.

No Investment Advice

Nothing on this Page should be regarded as investment advice (either with respect to a particular security or regarding an overall investment strategy), a recommendation, an offer to sell, or a solicitation of or an offer to buy any security. Advice from a securities professional is strongly advised to understand and assess the risks associated with real estate or private placement investments. For additional information on RM Securities’ involvement in this offering, please carefully review the Sponsor’s Investment Documents, and RM Securities’ Form CRS, Regulation Best Interest Disclosures, and Limited Brokerage Services Agreement.

1031 Exchange Risk

Internal Revenue Code Section 1031 (“Section 1031”) contains complex tax concepts and certain tax consequences may vary depending on the individual circumstances of each investor. RM Securities and its affiliates make no representation or warranty of any kind with respect to the tax consequences of your investment or that the IRS will not challenge any such treatment. You should consult with and rely on your own tax advisor about the tax aspects with respect to your particular circumstances.

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