WASHINGTON, DC-Brookfield Office Properties has acquired an EastEnd office building for $113 million in cash with the purchase of650 Massachusetts Ave., NW--an eight-story, 317,000-square-footproperty--from Washington Television Center. The company did notreturn a call to GlobeSt.com in time for publication.
In a statement, CEO of Brookfield Office Properties DennisFriedrich said the acquisition was part of the company’s strategyof targeting assets within its core markets.
Brookfield Office Properties has been repositioning itself as apure office play over the last several months. The company divesteditself of its residential land division in a $1.2-billiontransaction that entails a merger of BOP’s Carma Developersdivision with Brookfield Homes Corp., and is expected to close inJanuary 2011.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
