WASHINGTON, DC—After acquiring the 208-unit RittenhouseApartments complex here less than six month ago,TIAA-CREF has hired a firm to market the propertyto interested buyers.

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New York City-based TIAA-CREF has retained AriFiroozabadi's Greysteel Co. after itcompleted renovations at the property located near the Rock CreekPark Golf Course.

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TIAA-CREF acquired the Rittenhouse at 6101 16th St. NW earlierthis year through a joint venture with European investment managerHenderson Global Investors. Through the partnership, TIAA-CREFpurchased the subsidiary that manages all of Henderson'sproperties, including the Rittenhouse property, in North Americafor $2.6 billion.

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"This is in a location where you don't have a lot of excessland, and there's nothing coming out of the ground of any materialsize that can compete," Firoozabadi says. He adds that the propertyshould attract significant investor interest due to its goodlocation. The property is assessed at nearly $30 million, accordingto the D.C. Office of Tax and Revenue. See storyin the Washington Business Journal.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.