Business Details
33 Years
experience
Trusted Real Estate Development and Investment in Washington, DC
Potomac Investment Properties has been a leader in real estate development and investment for over 27 years, building on the Gewirz family's 90-year legacy in Washington, DC. Our expertise spans commercial, residential, retail, hotel, and mixed-use properties, with a portfolio totaling approximately 4.3 million square feet. We specialize in mid-to-long-term investments that deliver attractive risk-adjusted returns through strategic equity, joint ventures, and third-party capital. Our team's deep local knowledge and extensive lender relationships enable us to identify high-potential opportunities in transit-oriented, high-barrier-to-entry markets. With a focus on community impact, we prioritize projects that enhance the long-term prospects of the District of Columbia.Our principals bring decades of experience in development, finance, zoning, and asset management, ensuring successful execution across all asset classes. We maintain rigorous financial oversight and internal controls to safeguard investments and maximize value. Our commitment to excellence is reflected in award-winning projects like 1700 K Street, recognized as Building of the Year by the Washington Business Journal. With $2 billion in managed assets and a $350 million development pipeline, we remain dedicated to sustainable growth and innovation in real estate. Our partnerships with institutions like the Sibley Hospital Foundation and American Rivers underscore our commitment to community stewardship.
Services
Real Estate Development
Investment Management
Property Management
Capital Investment
Redevelopment Projects
Details
- Year established: 1993
Highlights and features
- We offer 90 years of family-owned expertise in Washington, DC real estate markets.
- Our principals have completed over $2 billion in real estate developments since 1993.
- We maintain direct control over all aspects of property development and management.
- Our team includes certified professionals with decades of local zoning and regulatory experience.
- We prioritize community impact through sustainable development and neighborhood partnerships.
Services
Real Estate Development
We develop commercial, residential, and mixed-use properties with a focus on transit-oriented, high-barrier-to-entry locations. Our expertise includes navigating zoning regulations, securing financing, and managing construction for projects like the 301-unit Meridian at Grosvenor. With $350 million in active development pipelines, we deliver sustainable, market-leading properties across Washington, DC and Northern Virginia.
Investment Management
We manage over $2 billion in real estate assets through strategic equity investments, joint ventures, and third-party capital partnerships. Our approach combines prudent leverage with extensive lender relationships to maximize risk-adjusted returns. Services include portfolio analysis, asset repositioning, and financial reporting oversight for diverse property types including office towers and multi-family housing.
Property Management
We provide comprehensive management for 4.3 million square feet of properties including office buildings, hotels, and residential complexes. Services cover leasing, maintenance, financial reporting, and tenant relations. Our team maintains strict internal controls and compliance standards to ensure optimal asset performance and long-term value preservation across our Washington, DC portfolio.
Redevelopment Projects
We specialize in transforming underutilized sites through complex redevelopment projects requiring zoning changes and regulatory approvals. Recent projects include converting 1960s-era office buildings into modern trophy-class properties and developing mixed-use sites with structured parking solutions. Our expertise includes navigating historic preservation requirements and optimizing land use in constrained urban environments.
Capital Sourcing
We provide project equity through corporate funds, family trusts, and principal shareholders while leveraging extensive lender relationships for debt financing. Our services include structuring joint ventures, negotiating construction loans, and securing permanent financing for developments like the Courtyard Marriott Foggy Bottom. We ensure competitive funding rates to support successful project completion across all asset classes.
People
Bernard Gewirz
Principal
Bernard Gewirz serves as Principal at Potomac Investment Properties, leveraging decades of experience in Washington, DC's real estate market. He oversees strategic development initiatives and investment decisions, drawing on his deep understanding of local zoning regulations and urban planning. His leadership contributes to the company's continued success in complex redevelopment projects.
Michael Gewirz
Principal
Michael Gewirz, a founding principal of PIP, brings over 32 years of commercial real estate expertise. He focuses on development, finance, and asset management, having led major projects like 300 M Street SE and 1700 K Street NW. A Georgetown Law graduate, he serves on boards including the Sibley Hospital Foundation, combining legal acumen with real estate leadership.
Steven B. Gewirz
Principal
Steven Gewirz co-founded PIP and has overseen $2 billion in real estate developments since 1993. As managing member, he directs land use strategies and project financing. His notable work includes the Dorchester West mixed-use development and 1700 K Street NW. A Tulane graduate, he previously led the Golden Triangle Business Improvement District, shaping Washington's commercial corridors.
Rich Jordan
Managing Director
Rich Jordan manages development and capital sourcing at PIP with 21 years of commercial real estate experience. Formerly with JBG Companies, he led $2.5 billion in transactions including Class A office developments. A U.S. Navy veteran, he holds an MBA from the University of San Diego and serves on affordable housing boards, blending military discipline with real estate expertise.
Joe Sprecher
Corporate Controller
Joe Sprecher oversees financial operations at PIP as Corporate Controller. A Certified Public Accountant, he manages financial reporting, budgeting, and investment analysis for the company's $2 billion portfolio. With prior experience at Catalyst Capital Holdings, he ensures rigorous accounting standards and provides strategic financial insights for development projects across Washington, DC.
Questions
What types of properties does Potomac Investment Properties develop?
We specialize in commercial, residential, retail, hotel, and mixed-use properties across Washington, DC and Northern Virginia.
How long has the company been in business?
Potomac Investment Properties was founded in 1993, building on the Gewirz family's 90-year real estate legacy in Washington, DC.
What distinguishes your approach to real estate investment?
We focus on mid-to-long-term investments with strategic equity, joint ventures, and third-party capital in high-potential urban markets.
Do you work on government-related real estate projects?
Our experience includes Class A office developments leased to government tenants through partnerships with national lenders.
How does the company contribute to community development?
We prioritize projects that enhance local communities, partnering with organizations like the Sibley Hospital Foundation and American Rivers.
