WASHINGTON, DC–If our source is correct, a JV between Norges and Oxford Properties is stepping up acquisitions in the Washington DC area.
The JV has under contract 1101 New York Ave., NW, for $418 million or $1,069 per square foot. This would be among the highest sales prices paid on a per square foot basis in the District — although not as high as the $1,250 per square foot that the JV is supposedly paying for 900 16th St., NW.
Last week we reported that the Norwegian government's global pension fund, called Norges Bank Investment Management, and its JV partner, Toronto-based Oxford Properties, are acquiring the 135,000-square foot building for $160 million
Read Source Says Norges Is Buying Another DC Office
1101 New York Ave., NW, is a 385,000-square-foot distinctive building with a glass facade and
dark granite base at the ground floor. It is owned by a partnership between Property Group Partners and W.R Berkley.
Inquiries to Oxford Properties and Property Group Partners by GlobeSt.com were not returned in time for publication. A spokesperson for Norges has declined to comment.
WASHINGTON, DC–If our source is correct, a JV between Norges and Oxford Properties is stepping up acquisitions in the Washington DC area.
The JV has under contract 1101
Last week we reported that the Norwegian government's global pension fund, called Norges Bank Investment Management, and its JV partner, Toronto-based Oxford Properties, are acquiring the 135,000-square foot building for $160 million
Read Source Says Norges Is Buying Another DC Office
1101
dark granite base at the ground floor. It is owned by a partnership between Property Group Partners and W.R Berkley.
Inquiries to Oxford Properties and Property Group Partners by GlobeSt.com were not returned in time for publication. A spokesperson for Norges has declined to comment.
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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.
