WASHINGTON, DC-Days after it acquired a building in the East End, BrookfieldProperties has sold one of its DC area holdings: 1225 ConnecticutAve., NW for $216 million. It traded to the World Bank, which hasoccupied the 240,000-square-foot building since 2008.
Brookfield did not return a call to GlobeSt.com in time forpublication. In a statement, the CEO of Brookfield’s UScommercial operations, Dennis Friedrich, said that the sale waspart of the company’s capital recycling strategy.
At the beginning of the month, Brookfield acquired 650Massachusetts Ave. for $113 million in cash as part of itsrepositioning as a pure office investor. This particular block hasbeen active in recent days. Last week, First Potomac snapped up 1211 Connecticut Ave., afully leased, eight-story, 137,754-square-foot office building for$49.5 million, or approximately $359 per square foot, from HarborGroup International.
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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.
