The REIT recently made another acquisition in the DC area: 270 Center, a 232,700-square-foot retail shopping center in Gaithersburg that is fully occupied. According to a statement by the company, 1300 Connecticut is Dividend's first office acquisition in the city.
Besides a validation that investment sales can close even in this environment, the deal also provides another anecdotal data point that life insurance companies are continuing to support commercial real estate transactions--despite their clear scale back of funding this year. HFF, which helped arrange the financing, did not return a call to GlobeSt.com.
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