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May 17, 2026Jemal Equities, a new venture that has been on a D.C. office buying spree over the past year, has scooped up another building, this time in Navy Yard.
The firm purchased 99 M St. SE, a 235K SF trophy building a block from Nationals Park, it announced on LinkedIn on Friday. The firm is led by Matthew Jemal, the youngest son of Douglas Development Corp. founder Douglas Jemal.
The price wasn’t disclosed, and the sale hasn’t yet been recorded with the D.C. Recorder of Deeds. Polinger Co., the previous owner of 99 M, had put the asset up for sale at the end of last year with Newmark.
“We’re excited to share that Jemal Equities has officially closed on the acquisition of 99 M Street SE in Washington, D.C.,” Jemal Equities wrote in its post. “This is another meaningful step for us as we continue to grow our portfolio thoughtfully and stay focused on long-term value in the D.C. market.”
Polinger Co. purchased the building at the end of 2019 from its developer, Skanska, for $163M.
Over the past year, the Jemal family has purchased four other office properties in the D.C. area totaling 598K SF — for just $89.3M combined — and at least three of them were through Jemal Equities, Bisnow reported earlier this year.
