Sentinel Square II Trades For $147M

Sentinel Square II

WASHINGTON, DC–The Sentinel Square II project located at 1050 First St., NE, has sold to a Korean investment group, Sentinel Square Hana OW, LLC — an entity associated with Hana Asset Management. The recorded price for the trade is $147 million.

The transaction was a fairly complex one in that the seller contracted the trade in the summer of 2016 but it first had to complete the tenant improvement projects for two tenants before it closed, explained Thomas Finan, a managing director in Trammell Crow Co.’s MidAtlantic office, to GlobeSt.com. “There were a lot of moving parts to getting the improvements done,” he says. Trammell Crow Co. and joint venture partners, Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital Real Estate, were the sellers of Sentinel Square II, which is part of the partnership’s three phase, 1.3 million square foot office complex in the heart of NoMa.