The D.C. investment sales market has kicked off 2018 with a bang, with several major office buildings trading hands in nine-figure deals, but brokers expect that pace to slow as the year progresses with fewer properties on the market.
The office building at 1401 New York Ave. NW Within roughly the last month, at least seven office buildings have sold for more than $100M in the D.C. market:
*** German investor Munich RE acquired 1440 New York Ave. NW for $250M. French investor AXA bought 1401 New York Ave. NW for $165M.
*** Boyd Watterson bought 500 E St. SW for $119M.
*** WashREIT reached a deal to acquire Rosslyn Tower for $250M.
*** Korean investor Hana Financial Group bought Sentinel Square II for $165M.
*** ASB Real Estate Investments acquired 64 New York Ave. NW for $186M
*** Principal Real Estate Investors bought 601 New Jersey Ave. NW for $175M
It is common for a string of deals to close around the end of the year, brokers say, but the number and size of these deals does signal that the D.C. market remains attractive for investors.
Click here to read the rest of the article written by Jon Banister over at Bis Now