WASHINGTON, DC-The Investa Office Fund is selling its stake in the Home Building, an East End office building that has been rumored to be under contract for a while. An 80% partnership interest in the 421,901-square-foot property is under contract to be sold to entities controlled by Mitsui Fudosan America for $252 million. Closing is expected for January 2012. Clarion Partners acted as advisor to the Investa Office Fund.

The sale of the building has been closely watched, given its architectural, financial and historical creds. “Trophy is an often abused term, but the Homer Building is one such property in the truest sense of the word,” Rob Greer, managing director at Clarion Partners, said in a prepared statement. “The building is historic and the location is extraordinary. It is an asset that performs well during challenging times and consistently rewards its investors with upside benefits during periods of strong growth.” Eastdil Secured was the broker in the transaction.

The building was originally built in 1913 and then restored in 1990. Features include a museum-quality lobby, a 12-story atrium, white marble staircases and LEED Gold certification. It is currently 90% occupied with tenants that include Amgen, General Mills and Toyota.

The Home Building trade follows a handful of other sales in recent weeks in the East End and CBD. Vornado Realty Trust acquired a 97.5% interest in the 130,000-square-foot 1399 New York Ave. for about $104 million. Also, New York-based Rockrose Development Corp. signed a contract to purchase 1776 Eye St., NW.