Oct
10
DC Office Building Trades, Seeks Rebranding
ByIn a deal brokered by Newmark Knight Frank, American Real Estate Partners paid $64.2 million for the 192,000-square-foot office asset located in the NoMad submarket of Washington, D.C.
After the disposition of Keystone Office Park in Durham, N.C., American Real Estate Partners (AREP) acquired a 192,000-square-foot office building in Washington, D.C.’s NoMad submarket. The purchase was made through the company’s Strategic Office Fund II LP in a joint venture with one of its institutional investors. According to public records, the property traded for $64.2 million and the sale was backed by a $31.4 million loan funded by Two Harbors Investment…
