WASHINGTON, DC-A joint venture that includes Principal Real Estate Investors LLC and a group of Korea-based pension funds are reportedly set to acquire the Washington Harbour development in Georgetown for $370 million.
The current owners of the two building mixed-use complex at 3000 and 3050 K St. NW−MRP Realty and Rockpoint Group LLC−are in line to gain $75 million from the sale, according to the Washington Business Journal.
The sale of the 560,000-square-foot development was first reported by the Korea IT Times. PREI and the Korean pension fund investors acquired a 335,000-square-foot office building in Houston earlier this year. See story in the Washington Business Journal.
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