Suburban Stalwart Peterson Cos. Makes First D.C. Apartment Acquisition

JULY 16, 2025 I BISNOW – Peterson Cos., a 60-year-old development firm known for building large projects in the suburbs of Washington, D.C., has made its inaugural multifamily acquisition in the District of Columbia.

The company paid $155M to acquire The Batley, a 432-unit mixed-use building at 1270 Fourth St. NE from JBG Smith, deed records show. The property near Union Market has 29K SF of ground-floor retail anchored by the La Cosecha food hall.

JBG Smith had sought $180M for the property, according to a notice it sent to tenants in the building this year, which Bisnow reported in March. The sale, first reported by the Washington Business Journal, is $25M below that number and well below the $205M the REIT paid for it in 2021.

To read the full article on Bisnow’s website, click HERE.