WASHINGTON, DC–It's back. DC's most prolific foreign investor has agreed to make another acquisition here. Japanese investor Unizo Holdings is acquiring 1325 G St., and 1341 G St., NW, for a total of $259 million, according to the company's announcement [PDF].
The seller of the properties is a JV between Westbrook Partners and Tier REIT.
1325 G St., NW, is a 306,563-square foot, 10-story office. Unizo is acquiring it for $193.5 million. 1341 G St., NW, is a 125,000-square foot office building. It is trading for $65.5 million. This portfolio last traded last in 2015 when Westbrook Partners acquired a majority stake in the two-office portfolio for around $200 million.
Last year Unizo made close to $1 billion in acquisitions in the DC market.
WASHINGTON, DC–It's back. DC's most prolific foreign investor has agreed to make another acquisition here. Japanese investor Unizo Holdings is acquiring 1325 G St., and 1341 G St., NW, for a total of $259 million, according to the company's announcement [PDF].
The seller of the properties is a JV between Westbrook Partners and Tier REIT.
1325 G St., NW, is a 306,563-square foot, 10-story office. Unizo is acquiring it for $193.5 million. 1341 G St., NW, is a 125,000-square foot office building. It is trading for $65.5 million. This portfolio last traded last in 2015 when Westbrook Partners acquired a majority stake in the two-office portfolio for around $200 million.
Last year Unizo made close to $1 billion in acquisitions in the DC market.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
