Savills' managing director Robert Stamm guided the off-market trade of 2175 K St., NW.

WASHINGTON, DC-Jones Lang LaSalle says that DC office investment sales will total somewhere between $5.4 billion to $5.6 billion. If word on the street is any indication, the final result will be closer to the latter. The end of the year is usually a race to close business, but buyers and sellers seem to be in particular hurry for 2012 for some reason.

Cushman & Wakefield’s Eric Berkman, who just brokered the 400 Army-Navy Dr. building sale in Arlington, VA, tells that he has seven deals he is trying to close worth in the aggregate some $250 million. ARA’s Drew White, who finalized the Archstone Charter Oak trade, reports that he has four closings worth $150 million. JLL’s Jim Molloy reports a deal in the hopper as well. Ditto Cassidy Turley.

Skye Hospitality, LLC of Baltimore, MD just sold a local 1,294-key hotel portfolio to MCR Development LLC of New York City, which purchased the portfolio free and clear of debt. HFF brokered the ten-asset deal.

The highlight of the recent flurry of deals, of course, is the trade of 2175 K St., NW, for $86.4 million. An open-ended property fund managed by Deka Immobilien of Germany acquired the property in an off-market sale from a joint venture between a U.S.-based investment manager and a local operator. Savills Managing Director Robert Stamm represented Deka Immobilien in the transaction.

Deka has invested in DC before, and despite the recent slowdown in sales it will continue to attract international capital, Stamm tells “Washington is always one of the major draws for foreigners because it is a very transparent, well organized market,” he says. Markets such as New York City or San Francisco tend to be more volatile, which makes foreign investors uncomfortable, Stamm adds. That said, international investors are not willing to buy any core asset at any price. Deka had been sitting on the sidelines for a while because it didn’t like the recent trends in pricing, Stamm notes.