WASHINGTON, DC–The JBG Cos. and ICG Properties announced this morning that 900 16th St., NW was sold to a JV between Norges Bank Real Estate Management and Toronto-based Oxford Properties Group in a 49-51% venture.
Last month GlobeSt.com had reported that the building was trading.
The sellers were represented by John Duffy and Andrew Asbill of the Washington DC office of JLL.
Read Source Says Norges Is Buying Another DC Office
The sellers did not reveal the sales price. Our source told us the building was trading for $160 million, or $1,250 per square foot — one of the highest sales prices for a District building on a per square foot basis.
Separately, we have also learned that Norges and Oxford Properties have under contract 1101 New York Ave., NW, for $418 million or $1,069 per square foot. 1101 New York Ave., NW, is a 385,000-square-foot building owned by a partnership between Property Group Partners and W.R Berkley.
Read Another Norges-Oxford Purchase, This Time for $418M
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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.
