The partnership represented itself in the transaction, whileEastdil stood in for the seller, whose identity is being kept underwraps for the time being. CDC Mortgage provided Normandy andWestbrook with the debt for the purchase.

Located near the Lincoln Memorial with views of the PotomacRiver, the office complex is also known as Columbia Plaza, as it isthe office component of the larger mixed-use Columbia Plazadevelopment. While the property was developed in 1974, it has sincebenefited from a bevy of upgrades. The detached structures areseven stories and 15 stories high, and are fully leased to the USGeneral Services Administration through 2012 for use by offices ofthe US Department of State.

"We bought the property at an extremely attractive pricerelevant to replacement costs," Normandy managing principal DavidWelsh tells GlobeSt.com. Welsh and partner Finn Wentworth own andmanage the company. "The State Department has leased the space for30 years and has in-place rents that are below market value, sowhen the lease rolls over in 2012, there will be potential forsignificant upside." Welsh adds that the joint venture-—whose onlyprevious history together involves Normandy's purchase of a NewYork office building from Westbrook exactly two years ago--planfurther acquisitions together in the future, with an eye toward thered-hot DC office market.