Northern Virginia Office, Industrial Portfolio Commands $90.5M
By
Hernon Corporate Center, Hernon, Va.
Bethesda, Md.—First Potomac Realty Trust, a D.C.-area owner and operator of office properties, recently announced it has sold its Northern Virginia Non-Core Portfolio, a set of eight office, flex and warehouse assets comprising 26 buildings and totaling 946,000 square feet. The REIT first announced its intention to sell the portfolio last year, with its first transactionreported this January.
The new owner is an affiliate of Finmarc Management and the total transaction price was $90.5 million. The aggregate occupancy rate of the eight properties, as of Dec. 31, 2015, was approximately 78 percent. James Meisel and Bruce Strasburg of HFF represented the seller. Finmarc was represented by Joseph Hoffman and Aaron Rosenfeld with law firm Kelley Drye & Warren LLP, according to rebusinessonline.com…
Northern Virginia Office, Industrial Portfolio Commands $90.5M
