WASHINGTON, DC–Columbia Property Trust and joint venture partner Allianz Real Estate have acquired 1800 M St., NW, for $421 million.
Columbia is taking a 55% stake in the building and will serve as the managing partner for property management and leasing activities. Allianz owns the remaining 45% interest. This is the fourth asset owned by the joint venture of Columbia and Allianz, which was formed in July 2017.
“With its exceptional location, physical quality, and strong occupancy, 1800 M Street is the right opportunity to expand our presence in this key market and further our partnership with Allianz,” said Nelson Mills, Columbia's president and CEO in a prepared statement.
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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.
