Boston Properties to Sell DC Office Building for $318M
ByBook flights now for RealShare APARTMENTS in Los Angeles on October 21-22. Don’t miss the networking and panels.
505 9th St. NW
WASHINGTON, DC—Boston Properties reports it has a binding agreement to sell its 505 9th St. N.W. office building here for approximately $318 million.
Boston Properties revealed the transaction today when it released its second quarter 2015 financial results. The 321,943-square-foot Class A office building was built and developed by Boston Properties in 2007. The property is held in a joint venture and Boston Properties owns 50% of the office building located at the corner of 9th and E streets.
The Boston-based firm reported that the July 29th sale includes the assumption of approximately $117 million of mortgage indebtedness by the unidentified buyer. The transaction is expected to close by the end of the third quarter of this year…
