Akridge and its partner Alcion Ventures have sold 1701 Rhode Island to an entity affiliated with EXAN Capital for $119 million, with a net recorded price of $105.7 million.
“1701 is emblematic of Alcion’s value-creation thesis,” said Eugene DelFavero, CFO and partner at Alcion Ventures. “Through partnering with best-in-class partners like Akridge, we were able to work together to transform an old YMCA gymnasium into a fully leased, trophy-quality office building with an outstanding and contemporary design. We are proud of the team’s execution and excited about the sale of the asset to an entity affiliated with EXAN Capital.”
The previous owners first purchased the YMCA National Capital building in March 2016, when the
