Postscript To The 1100 G St. Sale
Cushman & Wakefield will be leasing the building and the new owners will be upgrading the property’s amenities.
WASHINGTON, DC–Last week we reported that a JV between Meritage Properties and a Japanese private investor represented by Tokyo Trust Capital has acquired 1100 G St., NW for $54 million. HFF marketed the 110,000-square foot property on behalf of the seller UBS Asset Management. HFF also arranged $25 million in financing for the East End building, a five-year floating rate loan.
Since then Cushman & Wakefield has announced that it is the exclusive leasing agent for the 11-story building, led by Bruce Pascal, Stephanie Heffernan and Kyle McFadden.
C&W also reported that the new owners plan to upgrade amenities such as finishes in the lobby and the building’s common areas and are adding health and fitness amenities, including a bike room.
This is is Meritage Properties MO: the company’s core strategy is to acquire urban office properties that can benefit from a renovation and repositioning.