WASHINGTON, DC—Two national portfolio trades last week touched the DC market as some local assets traded hands. In one deal Blackstone acquired a portfolio of 15 select service hotels, two of which are in the local area. In other transaction, TIAA-CREF acquired Henderson Global Investors' $2.6 billion North American property business, which includes three local assets. The TIAA-CREF deal was part of a larger transaction in which the TIAA-CREF and Henderson launched a real estate investment management company that will be seeded with a combined $22.6 billion of assets under management.
Blackstone acquired the hotels from OTO Development, with JLL brokering the transaction. The two local assets are the Hampton Inn & Suites National Harbor in Oxon Hill, MD and Hampton Inn & Suites in Alexandria, VA.
As for TIAA-CREF, it is now the owner of Charlestown North, an apartment building in Greenbelt, MD, The Rittenhouse in Washington, DC and Waterford Tower in Silver Spring, MD.
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