Blum, Frank and Kamins Companies, Inc. (formerly Swesnik and Blum Companies, Inc.) will develop a $125 million office building and hotel complex on Capitol Hill at New Jersey Avenue NW, between E and F streets.

The development, dubbed Capitol Place, will include three office buildings of approximately 150,000 square feet of rentable space each, and a 265-room luxury hotel. It will be built on about two acres assembled over two years from eight different owners.

The hotel will be operated by a major chain and will include a two-story glass entry garden leading to a two-story lobby that will lead to an atrium. From the atrium, the three office buildings will be accessible. The architect is Vlastimil Koubek.

Construction is scheduled to begin this summer and to be completed in late 1983.

According to the developers, who also developed the Esplanade at 20th and K streets NW, the office buildings are 50 percent leased. Herbert Blum, president of the company, said he expects the complex to attract trade associations, unions, lobbyists, attorneys and others who will want to be near Congress.

Blum said his group chose the Capitol Hill location because no sites were left along K Street and Connecticut Avenue.