Smithsonian makes a killing

Taking advantage of a hot real estate market, the Smithsonian Institution made a $43.5-million profit on a building in downtown Washington.

The museum bought the property and refurbished it in 1999 for $114 million, using the nine-story Victor Building for office space. It sold for $157.5 million.

“It is a remarkable gain, perhaps one of the most remarkable investments made by the institution,” said Sheila Burke, the Smithsonian’s deputy secretary and chief operating officer. The sale was prompted by the real estate boom in the neighborhood. The money will go into the Smithsonian’s trust fund, she said.