WASHINGTON, DC-Graham Holdings, the former parent of The Washington Post, is selling the newspaper's headquarters at 15th and L streets NW to Carr Properties for $159 million.

The transaction comes as little surprise: the paper had been searching for a new headquarters since before it was acquired by Jeff Bezos. Until it locates a spot, it will remain in its current home. The deal is more telling about Carr Properties, which shows little sign of slowing down since closing its $330 million deal with Israeli firm Alony Hetz in August. Almost immediately after, Carr announced it was under contract to acquire a handful of properties in the area while closing several other deals as well.

Most recently it acquired a 49.9% interest in Shooshan Cos.'s One Liberty Center in Arlington, VA and reported that it is under contract to acquire a 49.9% interest in Two Liberty Center. Carr Properties also has 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.

At the time of its Alony Hetz transaction, Carr Properties owned 20 office buildings valued at $1.1 billion, which in 2012 yielded a net operating income of $68 million. As of the end of 2012, the portfolio's vacancy rate was 15.5%.

Instant Insights /

Carr Properties Buys WaPo Headquarters for $159M

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