Global real estate investment management company Rexmark announced on the 12th that the lawsuit regarding the lease rights for Amtrak (American Railway Passenger Corporation) and the Washington Union Station area has been concluded.
Headquartered in New York, Rexmark has invested and managed over $2 billion on behalf of more than 30 Korean institutional investors.
At the time Amtrak filed the condemnation lawsuit in 2022, the lease rights for Union Station were owned by Rexmark, and the U.S. District Court for the District of Columbia ruled in the summer of 2024 that the possession (operating rights) of the asset should be returned to Amtrak.
Rexmark reached a settlement in early February for more than double the amount initially proposed by Amtrak when it condemned "Union Station." Amtrak will be responsible for the overall management and operation of Union Station.
Opened in 1907, Washington Union Station is the second largest facility in terms of passenger usage among Amtrak's domestic routes. The number of passengers recorded for the 2024 fiscal year was 5.6 million.