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GIC Invests $1.05B In Three DC Offices

WASHINGTON, DC--The recapitalization with Beacon Capital Partners closed on Wednesday night.

By Erika Morphy | erikamorphy | Updated on February 22, 2017

Photo of Lafayette Centre exterior Lafayette Centre is part of the portfolio acquired by GIC. (Photo: ESI Design)

WASHINGTON, DC–GIC, Singapore’s sovereign wealth fund has recapitalized two offices in the Washington DC area owned by Beacon Capital Partners and invested with the company in a third, for a total of more than $1.05 billion.

The three properties are

  • Lafayette Centre, a 789,000 square foot multitenant complex of three buildings located in the Central Business District;
  • Pentagon Center, a 912,000 square foot complex of two buildings in Crystal City that are fully-leased for the long term to the US General Services Administration;
  • Terrell Place, a 426,000 square foot complex of three interconnected buildings in the East End.

The first two deals were structured as joint ventures. For the Terrell Place financing, GIC separately invested alongside an existing Beacon-sponsored fund.

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