UIP, Lubert-Adler pay $13M for Adams Morgan apartments

Urban Investment Partners and Philadelphia-based Lubert-Adler Partners have acquired Embassy Towers, a 72-unit apartment building at 1620 Fuller St. NW.

The developers acquired the property from a private family consortium. D.C. property tax records list its previous owner as John Pyles and Mary Calomiris. The property has an assessed value of $9.7 million.

The developers will begin renovations of the rental building’s common areas and individual apartments. UIP says the building will continue…