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Washington Harbour Sells to MRP, Rockpoint for $244M 

WASHINGTON, DC-HFF is brokering the transaction, which is trading at a mid-6% cap. 

By Erika Morphy  | Updated on June 23, 2010

WASHINGTON, DC-Washington Harbour, a two-building, mixed-use development on the Potomac River has traded. A partnership between Rockpoint Group and MRP Realty has acquired the property free of debt. HFF’s Stephen Conley, Andrew Weir and Elizabeth Taylor Johnston brokered the transaction. The property has traded for $244 million and mid-6% cap rate based on an 86% occupancy rate, according to a source.

Located at 3000 and 3050 K St., NW in the Georgetown submarket, Washington Harbour includes two towers totaling 532,601 square feet–of that amount, 456,376 square feet is for office use and 76,225 square feet for retail. The development is 86% leased to more than 20 tenants, including Foley & Lardner and Kelley Drye & Warren. 

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