Trio of DC Office Buildings Command $45M
ByUrban Investment Partners paid $45 million to acquire three Class C office buildings in Washington, D.C., from American University.
4000 Brandywine St., Washington, D.C.
Washington—Urban Investment Partners has acquired three Class C office buildings in the Tenleytown neighborhood of Washington, D.C., from American University for $45 million.
“We were attracted to the location in Tenleytown, a submarket with great infrastructure, including a Metro station and a Whole Foods,” Brook Katzen, UIP’s vice president of development, told Commercial Property Executive. “There has been a flight to quality in the office market, leaving older office buildings in need of a new use. Meanwhile, the multifamily market is still strong, and these buildings will make great conversions.”…
Trio of DC Office Buildings Command $45M
