The source could not confirm, however, published reports that Tishman Speyer is paying $2.9 billion for the assets.
The firm does not have a significant presence in Washington, DC proper; it does have several properties and developments under way in Northern Virginia though, including Lakeside@Loudoun Tech, a class A office complex totaling 305,455 sf in Loudoun, and Westfields Corporate Center, a 1,100-acre master planned office park located in Western Fairfax County.
In March the private equity firm Blackstone Group said it would buy CarrAmerica Realty for $5.6 billion--one of a series of deals in which a private equity player had acquired a public REIT or real estate company for the arbitrage opportunities, as well as greater operational flexibility, such a conversion could provide. Under the terms of the deal, which closed July 13, Nantucket Acquisition Inc., an affiliate of the Blackstone Group, acquired all of the outstanding common stock of CarrAmerica for $44.75 per share in cash.
Since the close, CarrAmerica has begun restructuring its operations as a private company. Last week it named former managing director for Northern California Christopher Peatross as CEO and former senior vice president & controller Kurt Heister as CFO.
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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.
