ARLINGTON, VA-Fresh off of the closing of its $330 million deal with Israeli firm Alony Hetz, Carr Properties has announced it has acquired or is under contract to acquire a handful of properties in the area.
The company acquired a 49.9% interest in Shooshan Cos.'s One Liberty Center in Arlington, VA and is under contract to acquire a 49.9% interest in Two Liberty Center. One Liberty Center is a 13-story, 319,327-square-foot office building developed in 2005. The building is fully leased to the Department of Defense. Carr Properties financed the acquisition through a combo of bank financing from PNC Bank, issuance of the company's operating partnership units and cash.
Two Liberty Center is a 9-story, 177,046-square-foot office building built in 2007. The building is also fully leased to 10 tenants, including BAE Systems and Strategic Analysis. The acquisition hinges on the existing lender's approval of the new ownership structure.
Carr Properties also acquired a joint venture interest in the development of 2311 Wilson Blvd., an approximately 180,000 square foot, 8-story trophy office building in the Courthouse submarket. 2311 Wilson Boulevard is designed to LEED Gold and Energy Star certification standards.
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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.
