Still For Sale: Columbia Property Trust’s Local Assets
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Columbia Property Trust is paying down a $105 million loan secured by 100 East Pratt with the proceeds from this sale.
RESTON, VA—Atlanta-based Columbia Property Trustjust announced it has sold 11 suburban and largely single-tenant office properties totaling 2.9 million-square feet for$433.3 million. Unfortunately for the local market, 881 Campus Commons here, and 800 N. Frederick Ave., in Frederick, MD, was not among them. The Reston office is projected to be completed later in the third quarter of 2015 and the suburban Maryland office project will deliver at the end of the year.
Columbia Property Trust put the portfolio on the marketin March of this year.
The REIT acquired Campus Commons as part of the Spear Street portfolio trade in January, which also included 315 Park Avenue South Building in Manhattan, New York…
