WASHINGTON, DC–JBG Cos. has sold one of its marquee holdings in Georgetown, according to a source: Jefferson Court, the 322,780-square foot office building located at 1025 Thomas Jefferson Court. The property sold for $141.8 million, or $439 per square foot. The buyer is the Qatar Global real estate investment fund, Alduwaliya AM.
The fund has made a handful of acquisitions in the US lately, including two purchases this summer. One was an office building in Boston, located at 311 Summer St., for $38.5 million; the other was a Hilton Homewood Suites in New York City for $168.1 million. Last December it acquired 39th Street Fashion Center in New York City for $123.5 million.
As for JBG Cos., it has been moving in the opposite direction for the most part, selling off non-core assets per the game plan it outlined in its failed attempt to acquire New York REIT.
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