Tishman Speyer Properties purchased 1300 N. 17th St., a 19-story office building in Rosslyn, VA, from Beacon Capital Partners for about $200 million reports a Wall Street Journal article. According to the article, the $500 per square foot price for the property is among the highest on record for an office building purchase in the District's Virginia suburbs.
"They've righted their ship to concentrate on what they do best, which is the office sector," said Ben Thypin, director of market analysis at Real Capital Analytics in Manhattan, regarding Tishman. "That makes sense. It reflects how forgiving the real estate market can be."
Beacon originally purchased the property in 2007 as part of its acquisition of an Equity Office Properties portfolio from Blackstone Group. Blackstone subsequently sold a 9.8 million square foot chunk of that portfolio in Washington DC and Seattle to Beacon.
For more news and information visit Blumberg Capital Partners.
No comments:
Post a Comment