Sep
26
MetLife, Norges Bank Buy Big in DC
ByThe joint venture partners paid nearly $422 million for the Three and Four Constitution Square office buildings.
Constitution Square, Washington, D.C.
Washington—In their latest joint venture move, MetLife Inc. and Norges Bank Real Estate Management have acquired Three and Four Constitution Square, two office buildings featuring an aggregate 842,000 square feet of space in Washington, D.C. The partners purchased the towers from the developers, StonebridgeCarras and Walton Street Capital LLC, for approximately $421.8 million.
According to StonebridgeCarras, the total project cost for Three and Four Constitution, the latter of which is presently under development, is $350 million…
