WASHINGTON, DC-Tishman Speyer and its partners in a 28-asset portfolio of Washington, DC-area office buildings report that they have recapitalized its debt. The equity partners, led by Tishman Speyer and including SITQ, have invested $700 million to retire $600 million of partnership debt and provide working capital. Tishman Speyer will continue to be the general partner, property manager and leasing agent for all of the properties.

The partnership acquired the portfolio–once the CarrAmerica portfolio– in 2006. The office buildings, which include such properties as International Square, Terrell Place and the
Commercial National Bank Building, total 6.3 million square feet and are approximately 88% leased.

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