Situated in the Golden Triangle of the city's central business district, the 11-story structure was developed three decades ago and features a three-level underground parking facility. "Washington, DC continues to be one of the strongest markets in the country for investment real estate," HGI CIO Chuck Patty notes. "We acquired 1015 18th St. with the intent of re-leasing space at market rents and then exiting the investment. Due to the healthy conditions of the Washington, DC market, we were able to do this on an accelerated schedule and sell the property earlier than expected." At the time of the sale, 1015 18th St. was 97% occupied.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
