In September 1998, 1522 K Street was in poor shape physically, the garage was rendered useless due to structural problems, two entire floors were being vacated and occupancy was headed below 50%. Intrepid responded with the help of Heller Financing, investing an additional $1,800,000 for lease-up and renovation. By the summer of 2000, Intrepid had refinanced the property at 75% of its valuation and removed 100% of its equity out of the transaction. In 2002, operating income has tripled. Occupancy is 100%. Valuation has more than doubled.

Floorplans:

• Lower Level
  
• First Floor
  
• Second Floor
  
• Third Floor
  
• Fourth Floor
  
• Fifth Floor
  
• Sixth Floor
  
• Seventh Floor
  
• Eighth Floor
  
• Eighth Floor (B)
  
• Ninth Floor
  
• Eleventh Floor