WASHINGTON, DC—Lafayette Tower, an 11-story, 237,000-square-foot office at 801 17th St., was torn down and redeveloped by the then Louis Dreyfus Property Group appears to have been bought out by one of the partners in the building, according to a source.
Morgan Stanley's Prime Property Fund acquired a partial interest in the building from Property Group Partners. The grossed up price for the building is $229.2 million.
The last time the building traded, in its previous incarnation as a home for the FDIC and before that, RTC, was in 2005 for $80 million. Louis Dreyfus completely renovated the property, which went on to become the first building in the District to be certified Platinum Core & Shell by USGBC.
Tenants in the building include Fried Frank, Holland & Knight, Drexel University, Au Bon Pain and TD Bank.
GlobeSt.com has reached out to the principals in the transaction. We will update the story when we learn more.
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