WASHINGTON, DC–GlobeSt.com has learned that 1620 L St., NW has been sold for $98.5 million two years after it traded to LaSalle Investment Management for $65.2 million. Prior to that the building traded in September 2008 for $61 million.
LaSalle Investment Management declined to comment in response to GlobeSt.com's inquiry.
Our source reports that Liberty Mutual is the buyer. A call to Liberty Mutual was not immediately returned.
Chicago-based LaSalle Investment Management has made two acquisitions in the last two months. A few days ago it announced it closed on Mayo Clinic Square, a 222,000 square-foot mixed-use complex within the Warehouse District of the Minneapolis CBD. In March it acquired a stake in 10 Post Office Square, 14-story office building spanning more than 450,000 square feet in the Boston CBD. The deal recapitalized a joint venture with Synergy Investments, who will continue to act as the operating partner.
WASHINGTON, DC–GlobeSt.com has learned that 1620 L St., NW has been sold for $98.5 million two years after it traded to LaSalle Investment Management for $65.2 million. Prior to that the building traded in September 2008 for $61 million.
LaSalle Investment Management declined to comment in response to GlobeSt.com's inquiry.
Our source reports that
Chicago-based LaSalle Investment Management has made two acquisitions in the last two months. A few days ago it announced it closed on Mayo Clinic Square, a 222,000 square-foot mixed-use complex within the Warehouse District of the Minneapolis CBD. In March it acquired a stake in 10 Post Office Square, 14-story office building spanning more than 450,000 square feet in the Boston CBD. The deal recapitalized a joint venture with Synergy Investments, who will continue to act as the operating partner.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.