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Southwest DC Office Sells for $170M

WASHINGTON, DC-The 600,000-sf, class C office building is Monday Properties' first acquisition in the area.

By Erika Morphy | Updated on December 15, 2006

WASHINGTON, DC-A joint venture between New York City-based Monday Properties and the Apollo Real Estate Advisors’ Value Enhancement Fund VI has acquired a 600,000-sf office asset in Southwest Washington. The sale of the property, called the Transpoint Building, has not been recorded in local comps, but according to a source it traded for a little under $170 million.

Monday Properties and Apollo Real Estate did not announce the seller, but according to the most recent comp available for the property, the owner had been CDC Mortgage Capital, which acquired the class C building from Laszlo N. Tauber & Associates in February 2004 for $90.5 million.

The building, located at 2100 Second St. SW, has served as the headquarters for the US Coast Guard since 1973, when the building was constructed. The Coast Guard’s lease is set to expire in 2008.

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