HERNDON, VA- American Real Estate Partners is under contract to buy two office assets in the District’s CBD, CEO Douglas Fleit tells GlobeSt.com, but further details are still come, he promises. Meanwhile, the company is also acquiring two office buildings in Richmond and Basking Ridge, NJ, both of which are new to the company.

The buildings, Riverside on the James and Westgate I, were traded for $63.7 million and $67 million, respectively, unnamed sources say. CB Richard Ellis’ Bill Prutting and Adam Spies of Eastdil were the brokers on these two transactions. The buyers are a life insurance company for the Richmond office and a pension fund for the property in New Jersey. Fleit declined to discuss the sellers or details about the pricing.

Riverside on the James is a 263,000-square-foot office and retail project in downtown Richmond. Tenants in the 91%-leased building include Troutman Sanders LLP, Harris Williams/PNC and Rutherford, a subsidiary of Marsh. Westgate I, a 230,518-square-foot building, is located 35 miles from Manhattan in a 40-acre office park. It is fully leased to Everest RE. "These buildings are both well-leased, extraordinary developments, and have exceeded our return objectives," says Fleit. The company is in acquisition mode and willing to look at new markets, he adds. "We expect to be extremely active over the next few years."