WASHINGTON, DC–ASB Real Estate Investment reported that 900 G St., NW has sold for $144 million, or $1,274 per square foot. GlobeSt.com first reported that this trade was pending last month.
This sale precedes another high per-square foot trade: 1440 New York Ave., which Clarion Partners is selling to Munich Re for $250 million. CoStar Group first reported on that trade last week.
900 G St., NW, a 112,635-square foot East End building, was sold to an affiliate of Masaveu Real Estate US — a subsidiary of Corporacion Masaveu of Spain — that was advised by EXAN Capital. Masaveu's US portfolio is valued at more than $720 million. ASB completed the transaction on behalf of its $7.4 billion Allegiance Fund, which owned the property.
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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.
