Elandis has officially commenced restoration of its recently acquired 200-year old townhouse building located in the coveted Georgetown area of the nation’s capital, Washington, D.C. The full-scale restoration, sensitive to the historic property’s heritage and legacy, is expected to be completed by the summer of 2017. Upon completion, the property will serve as the Libra Group’s new office base in Washington, D.C.
Despite previous renovations to the property, its layout remains virtually unchanged since it was built in the 19th century. Located near M street, the attractive former private home is surrounded by cobblestone sidewalks, a typical feature of this charming district which also hosts numerous foreign embassies and is home to many politicians.
Elandis develops, owns and manages real estate assets throughout the Americas and in Europe, with a focus on prime real estate assets in the residential, commercial, industrial and hospitality sectors.
Elandis has a proven track record for investing in and improving such assets and this latest acquisition is a new milestone in the company’s development. “This investment represents a secure asset that will ultimately provide a strong return on investment and serve as an office for Libra,” said Ted Lawson, COO of Elandis. “We are thrilled with our first property in the U.S. capital where we very much look forward to adding value and making a contribution to the local community.”