Circle Towers. Photo by UDR.WASHINGTON, DC–The pause in Washington, DC-area investment sales appears to have ended with the sale, or pending sale of a growing number of assets. Yesterday, we reported a source told us that JBG Smith had a buyer for the Executive Tower in the District.
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We have also learned that the Discovery headquarters has traded for $70 million, or $128 per square foot. We reported on that deal when it occurred but there were no financial details released with the announcement.
Another pending sale, we have learned, is of the 606-unit apartment building Circle Towers, in Merrifield, VA. The 13-story property is said to be trading for $165 million, or $272,277 per unit from UDR to the Laramar Group.
In Rockville, Md., Research Plaza I & II on Research Blvd., have traded for $38 million or $167 per square foot last month. The 227,114-square foot buildings were sold by TA Realty to Rubenstein Partners.
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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.
