WASHINGTON, DC–The Sentinel Square II projectlocated at 1050 First St., NE, has sold to a Korean investmentgroup, Sentinel Square Hana OW, LLC — an entity associated withHana Asset Management. The recorded price for thetrade is $147 million.

The transaction was a fairly complex one in that the sellercontracted the trade in the summer of 2016 but it first had tocomplete the tenant improvement projects for two tenants before itclosed, explained Thomas Finan, a managingdirector in Trammell Crow Co.'s MidAtlanticoffice, to GlobeSt.com. “There were a lot of moving partsto getting the improvements done,” he says. Trammell Crow Co. andjoint venture partners, Cottonwood Partners and a subsidiary of aprivate real estate fund advised by Crow Holdings Capital RealEstate, were the sellers of Sentinel Square II, which is part ofthe partnership's three phase, 1.3 million square foot officecomplex in the heart of NoMa.

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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.