WASHINGTON, DC–JBG Cos. has sold one of its marquee holdings in Georgetown, according to a source: Jefferson Court, the 322,780-square foot office building located at 1025 Thomas Jefferson Court. The property sold for $141.8 million, or $439 per square foot. The buyer is the Qatar Global real estate investment fund, Alduwaliya AM.
The fund has made a handful of acquisitions in the US lately, including two purchases this summer. One was an office building in Boston, located at 311 Summer St., for $38.5 million; the other was a Hilton Homewood Suites in New York City for $168.1 million. Last December it acquired 39th Street Fashion Center in New York City for $123.5 million.
As for JBG Cos., it has been moving in the opposite direction for the most part, selling off non-core assets per the game plan it outlined in its failed attempt to acquire New York REIT.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
