WASHINGTON, DC—Los Angeles-based CBRE Global InvestmentPartners and The JBG Cos. of Chevy Chase,MD have formed a joint venture to acquire $500 million in office,retail and multifamily properties in the DC region.
The companies expect to invest about $250 million in equity inconnection with its DC acquisition initiative. The companies saythey will explore broadening their relationship if their DC ventureproves successful, according to the Washington BusinessJournal.
"The JBG Companies has deep local relationships, marketknowledge and operating expertise and this venture provides ourclients an opportunity to acquire high-quality assets in one of thelargest U.S. metros," Paul Sisson, head of theAmericas for CBRE Global Investment Partners, said in astatement.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
