New partnership launches into business with DC purchase.

JOSS Realty Partners, LLC, a newly-established real estate investment firm, announced that it has acquired two Washington D.C.-based office buildings--1776 Massachusetts Avenue and 2131 K Street.

The deals mark the formal launch of a new commercial real estate firm led by industry veterans Steve Klein and Larry Botel, who have come together to invest in commercial real estate properties and development opportunities in the $20-$50 million range in New York, Washington D.C., Philadelphia and Southeast Florida.

"Our strategy is to target smaller commercial and residential properties in metropolitan markets, where land is scarce, but job growth and demographics are favorable," said Steve Klein, a 22-year industry veteran and former EVP of SL Green Realty Corp.

"Washington DC is ideal due to its government employment base and ability to maintain consistent job growth," added Larry Botel, a 17-year industry veteran who has overseen more than 3 billion dollars of real estate transactions throughout the United States.

The property acquired at 2131 K Street is located in the "Golden Triangle" within the Central Business District, which is in the heart of downtown Washington D.C. The company's first acquisition, 1776 Massachusetts Avenue, is equally well located, situated where the upscale Dupont Circle neighborhood and the historic Embassy Row converge.