WASHINGTON, DC-A high-net worth family in New York has snapped up 919 18th St., NW, for $52.75 million. The CBD office is trading free of debt from Clarion Partners. The LLC buying the property, Epic, plans to make other investments in the DC area, now that it has concluded its first transactions, HFF Jim Meisel tells GlobeSt.com. Meisel, along with HFF colleagues Dek Potts, Andrew Weir and Stephen Conley brokered the transaction.
A 10-story, 105,965-square-foot office property, 919 18th St., was originally built in 1981 and then renovated in 2013. It is 94% leased to 20 tenants.
The LLC secured financing for the sale, Meisel says.
The LLC plans to make more investments in the DC market, he adds.
Meisel was unclear about specifics regarding their investment plan but another source tells GlobeSt.com that 1110 Vermont Ave. in DC has gone under contract and that this LLC might be the buyer.
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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.
