1801 K St. Comes off the Market for $182M

WASHINGTON, DC-High-priced sales of office properties in the District have continued at a lightning fast pace, and the recent change in ownership of the building at 1801 K St. is no exception. The 565,000-sf office tower jumped from one portfolio to the next, with Starwood Capital Group Global LLC’s Starwood Global Opportunity Fund VI affiliates’ acquisition of the property in a deal reported to be valued at nearly $182 million.

Situated in the Golden Triangle area of the city’s Central Business District, 1801 K was developed in 1971 and rises up 12 stories toward the sky. The building could be considered a class B+ property because of its age and the fact that 200,000 sf of space will be up for expiration in the next four years, but its stellar location and the presently sizzling market helped allow it to command the approximately $320 per sf in the transaction.