WASHINGTON, DC-On Thursday morning Liberty Property Trust will announce it has acquired 2100 M St., NW, for close to $134 million. A spokesman for the REIT confirmed the bare bones details for GlobeSt.com after it was recorded publicly.
The eight-story, 298,928-square-foot office building is located in the CBD. Hines was the seller.
Hines acquired the building in 2007 for a reported price of $152.5 million. Prudential Real Estate Investors sold the property to Hines on behalf of German institutional investors in US Property Fund III.
The building is a milestone of sorts for Hines—the company acquired the property through its US value-add office investment program; the program's first DC acquisition. Hines, of course, has been a long-standing investor in the DC area.
GlobeSt.com will report further details on Thursday.
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