JV Acquires DC-Area Office Asset
The transaction serves as Arch Street Capital Advisors and VEREIT’s fourth acquisition this year, totaling $170 million in value.
HERNDON, VA – Joint-venture partners, Arch Street Capital Advisors and VEREIT, have acquired the Herndon, VA office asset, 12975 Worldgate Centre.
The property serves as the global headquarters for Peraton, which occupies 100% of the asset.
“The Peraton global headquarters property is an impressive asset and VEREIT is pleased to have completed this transaction to enhance the office partnership portfolio,” says VEREIT EVP and chief investment officer, Thomas W. Roberts. “VEREIT’s team, in partnership with Arch Street Capital, looks forward to further strengthening the portfolio through future acquisitions.”
The transaction serves as the joint-venture’s fourth acquisition to-date, upon forming the partnership in January 2020 with Arch Street Capital Advisors’ institutional client, Gatehouse Capital, K.S.C.C., Kuwait. The partnership’s four assets total $170.6 million in value.
“We continue to expand our relationship with VEREIT through accretive office acquisitions, while remaining active in the identification of compelling opportunities for our net lease program,” states Damian Taylor, managing director of Arch Street.
The partnership is actively seeking additional new, long-term leased, single-tenant office acquisition opportunities.