Seven-Building Office Portfolio Trades for $110M

RESTON, VA-Signing on to pay $110 million, real estate investment bank Buchanan Street Partners has become the new majority owner of a seven-building office portfolio in Northern Virginia. Buchanan Street bought the portfolio in conjunction with new joint venture partner San Juan Capistrano, CA-based Access Property Services.

Buchanan’s share of the investment, culled from its investment fund Buchanan Urban Investors II, amounts to 75% of the total acquisition price; Access will serve as the managing member for the portfolio. For Buchanan the deal beaks new ground, as it is the company’s largest single investment ever. For the joint venture, the deal marks the parties’ first purchase together.