How we invest

Rendering of a bright, modern lobby with lounge seating and people talking
Rendering of the planned lobby at 4100 N Fairfax Drive.

We look for well-located buildings held back by vacancy, an outdated use or underinvestment, and put in the capital and the work to bring them back.

  1. Hands-on asset management

    Leasing, capital projects and operating costs are actively managed at every property, from acquisition through stabilization.

  2. Flexible capitalization

    Each investment is capitalized to fit its business plan, from conventional debt to C-PACE financing and structured equity.

  3. Differentiated sourcing

    Long-standing relationships across Washington, Northern Virginia and Richmond surface opportunities before they reach a broad market.

Portfolio

707 E Main Street

Under construction

Richmond, Virginia. Downtown Financial District.

Existing tower, prior to conversion.

Conversion of Richmond's former 20-story Dominion Energy office building into 288 apartments and a 207-room AC Hotel by Marriott, with a first-floor amenity level that includes a fitness center, co-working space and game rooms. The first project financed under the City of Richmond's C-PACE program.

Strategy
Adaptive reuse
Building
20 stories, approx. 370,000 SF
Program
288 apartments, 207 hotel rooms
Architect
FILLAT+ Architecture
Status
Under construction, completion expected November 2027

4100 N Fairfax Drive

Repositioning

Arlington, Virginia. Ballston, adjacent to the Ballston-MU Metro station.

Repositioning of a Class A office building in the Rosslyn-Ballston corridor. The renovation adds a hospitality-style lobby, a 100-person conference center with pre-function space and coffee bar, a new fitness center with lockers, and a private rooftop terrace opportunity for an anchor tenant.

Strategy
Office repositioning and lease-up
Building
13 stories, approx. 271,000 SF, LEED Gold
Parking
441 spaces
Status
Repositioning in progress
Lobby
Conference center
Fitness center
Pre-function lounge

1255 23rd Street NW

Predevelopment

Washington, DC. West End, two blocks from the Foggy Bottom-GWU Metro station.

Existing building, prior to conversion.

Conversion of a 342,000-square-foot West End office building into approximately 323 apartments, including up to three dozen affordable units, in a joint venture with DivcoWest. The building sits between Georgetown, George Washington University and Dupont Circle, close to jobs, transit and retail in a part of the city with little new housing, particularly affordable housing.

Strategy
Adaptive reuse
Building
8 stories, approx. 342,000 SF
Program
Approx. 323 apartments, including up to three dozen affordable units
Partner
Joint venture with DivcoWest
Project team
FILLAT+ Architecture, architect. CBG Building Company, general contractor
Status
Predevelopment
Portrait of Norman Jemal

Norman Jemal

Founder, Jemal Real Estate Strategies. Senior Managing Principal, Douglas Development.

njemal@jemalres.com

Norman founded Jemal Real Estate Strategies and serves as Senior Managing Principal of Douglas Development, where he sets strategy across the portfolio and leads capital markets, development, asset management and transactions. Since joining Douglas Development in 1993, he has closed $9.5 billion in commercial real estate transactions across office, multifamily, hospitality, retail, industrial, self-storage and medical properties.

He is known for bringing landmark buildings back into use, including the conversions of Syracuse's M&T Bank building into the Treasury Apartments and Richmond's Central National Bank building into Deco at CNB, along with hospitality projects such as the AC Hotel in downtown Washington and the Canal House hotel.

Norman serves on the Board of Trustees of Ford's Theatre and the Board of Directors of the DowntownDC Business Improvement District, and has been named to Commercial Observer's DC Power list multiple times.