Beacon Capital Buys Nearly all of Westfield's 3M-SF Office Portfolio

ROSSLYN, VA-Beacon Capital Partners has officially acquired Westfield Realty’s Northern Virginia area office portfolio–more precisely, most of the portfolio–in a transaction valued in the range of $960 million and encompassing an aggregate 2.8 million sf. Beacon now owns 10 buildings totaling 2.5 million sf here, and in Crystal City the Boston-based real estate company owns a minority interest equal to 300,000 sf in a two-building portfolio. All the buildings are either fully leased or leased to near capacity.

In Rosslyn, Beacon bought seven buildings–1000, 1100, 1101, 1200, 1401, 1501 and 1515 Wilson Blvd., totaling approximately 1.9 million sf–a 190,000-sf structure at 1400 Key Blvd., a 270,000-sf tower at 1701 N. Fort Myer Dr. and a 100,000-sf structure at 1815 N. Fort Myer Dr. In Crystal City, the company purchased a 20% interest equaling 300,000 sf involving a two-building site at 2800 and 2900 Crystal Dr.