Vieron Capital Buys BXP's Sumner Square for

Vieron Capital has purchased the leasehold interest in BXP's Sumner Square office complex for $66.8 million. The private investment fund and family office, headquartered in King of Prussia, Pennsylvania, acquired the 210,000-square-foot property near Dupont Circle this month, according to a Thursday filing in D.C. deed records reported by Bisnow.

Vieron borrowed $31 million from Bank of America to finance the deal. Neither BXP nor Vieron Capital responded to requests for comment.

The Sumner Square Property

The District of Columbia owns the ground beneath the three properties. The buildings include the restored 1872 historic Charles Sumner School, which was D.C.'s first permanent school building constructed for Black students, and the 1887 William Beans Magruder School.

The sale continues a trend of private buyers acquiring discounted office assets in Washington, D.C. Vieron's website states the company has purchased two other D.C.-area properties in the past year: a 211,000-square-foot office in Tysons Corner and a 71,000-square-foot office near Franklin Park. Its stated focus is on buying Class-A and B office properties in Virginia and D.C. markets.

BXP had previously revealed in a May Securities and Exchange Commission filing that it was under agreement to sell Sumner Square for $63 million to an undisclosed buyer, as reported by the Washington Business Journal. The REIT recorded a $35 million loss in the second quarter as an impairment charge, reflecting that the sale price was below the asset's carrying value.

Other D.C. Area Transactions

Bisnow's report also detailed several other recent leases and sales in the property market.

In a major lease, law firm Sheppard signed a 107,000-square-foot prelease at 2033 K St. NW. Owner In-Rel Properties is undertaking a renovation for the firm, which includes adding three floors and a penthouse. Sheppard is expected to relocate in July 2029 from its current office nearby. In-Rel purchased the 128,000-square-foot property in July 2025 for $20.5 million.

On the sales front, Douglas Development Corp. sold a 29,000-square-foot mixed-use building on Georgetown's M Street to Adams Investment Group for $12 million. The property, which consists of office, residential, and retail space, is slated for a luxury home redevelopment.

In Virginia, The Meridian Group and Harrison Street Asset Management purchased five office buildings in the Westfields Center office park in Chantilly. A source familiar with the transaction told Bisnow the price was around $67 million.

Separately, BXP is under contract to sell its 254,000-square-foot building at 1330 Connecticut Ave. NW to Jemal Equities. The REIT remains the sole developer pursuing ground-up office construction in the District, with two 320,000-square-foot projects underway and a third in development.