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An email exchange from 2016 has surfaced, revealing that Jeffrey Epstein was presented with a lucrative real estate investment proposal involving properties leased by the Pentagon. This proposal was part of a larger portfolio featuring federal tenants like the FBI and U.S. courthouses, linking Epstein to significant aspects of the government.
This proposal emerged years after Epstein had pleaded guilty in June 2008 to soliciting minors for prostitution, resulting in an 18-month jail sentence and his status as a convicted sex offender.
Documents indicate that David Stern, acting as an intermediary for Epstein and former Prince Andrew, forwarded a real estate opportunity to Epstein. This proposal, originally from Jonathan Fascitelli of International Government Properties (IGP), outlined the chance to acquire the Pentagon Center complex in Arlington, Virginia.
The Justice Department has released several batches of files related to Jeffrey Epstein. (Photo credit: Rick Friedman/Rick Friedman Photography/Corbis via Getty Images)
Located just a mile south of the Pentagon, the two office buildings have been exclusively leased to the War Department since 1993. These buildings are described as “mission-critical assets” because they are the only properties in Arlington, apart from the Pentagon itself, that can accommodate the Department of War’s space and infrastructure requirements.
The Pentagon Center would have cost $387 million, with $116 million in equity required, and generated a Net Operating Income (NOI) of $27 million, according to the documents.
In 2015, the GSA renewed the Department of War lease on the complex, officially called the Polk and Taylor buildings, through 2025, according to a report from BisNow.
The email chain also revealed a prior discussion from October 2015 where Fascitelli pitched Stern on acquiring two FBI buildings and various U.S. courthouses, which Stern said “could be interesting.”
Jonathan Fascitelli is the founder and chairman of Seregh, and the former CEO of Harris Blitzer Sports & Entertainment Real Estate.
He led the Philadelphia 76ers’ new $1.5 billion arena development as well as significant projects for the New Jersey Devils, according to his company website. Fascitelli also played a lead role in the acquisition of the Washington Commanders.
Others involved in IGP included: Al Iudicello, a former 14-year executive at the U.S. General Services Administration (GSA) and Air Force Academy graduate; Robert Riley, who directly originated more than $2 billion in loans for commercial real estate occupied by government agencies (primarily the GSA); and Chris Penrose, a real estate developer specializing in Class A office buildings for the GSA.