WASHINGTON, DC—Lafayette Tower, an 11-story,237,000-square-foot office at 801 17th St., wastorn down and redeveloped by the then Louis DreyfusProperty Group appears to have been bought out by one ofthe partners in the building, according to a source.
Morgan Stanley's Prime Property Fund acquired apartial interest in the building from Property GroupPartners. The grossed up price for the building is$229.2 million.
The last time the building traded, in its previous incarnationas a home for the FDIC and before that, RTC, was in 2005 for $80million. Louis Dreyfus completely renovated the property, whichwent on to become the first building in the District to be certifiedPlatinum Core & Shell by USGBC.
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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.
