The DC property sale delivered significant gross profits to the fund, which has a US office in Atlanta. "It bought the building three-and-half years ago for $80 million," Luck says.

The 10-story, 201,464-sf building is fully leased to five tenants, the largest of which is the US Mint occupying seven floors. Other government agencies also are counted among the occupants as well as three retail tenants. The building's location is favorable for leasing activities in the long term as well, Luck says, pointing to its position at Ninth and H streets and its proximity to the soon-to-be developed mixed use site of the former Convention Center.

Investment sales activity shows little sign of diminishing in this market, and prices for assets of all categories, with class A office continuing to rise. The Ninth Street trade ranks among the highest, as the average selling price for class A space throughout the city has been hovering around $465 per sf. In the East End, recent trades include BlackRock Realty Advisors' $90.8-million acquisition of 1015 15th St. from TIAA-CREF, and Fidelity Investments purchase of 1201 and 1225 New York Ave., a 413,000-sf building that was redeveloped into one property, several weeks ago. It paid Strategic Real Estate Advisors, a London-based firm, more than $200 million for the asset.